The price of Ether, the second largest cryptocurrency, reached a record high on Thursday, reaching $2.700.
Investors rallied after the European Investment Bank announced it had issued its first digital bond in Ethereum’s blockchain, the Ether-based system. The move was interpreted by the market as a vote of confidence in Ether by key financial institutions. The bond is worth $121 million and will mature on April 28th, 2023.
Although most cryptocurrencies are gaining ground during Thursday’s session, gaining momentum from Ether, Bitcoin is down about 16% from its all-time low earlier this month.
Despite the correction, however, Bitcoin’s profits since the beginning of the year amount to about 90%.