Ethereum Just Hit an All-Time High, Beating Bitcoin's Year-to-Date Gains
May 3, 2021 2 min readhit an all-time high on Monday, surpassing the $3,000 mark and beating 's year-to-date gains, according to Reuters. Ether, the token used in the Ethereum blockchain, jumped 3% on the Bitstamp exchange, reaching approximately $3,145 earlier in the day in London. Decentralized finance is a system in which financial products are accessible on a public decentralized blockchain network, making it easier for people to make transactions without having to go through banks or brokerages. Its recent spike comes just days after the European Investment Bank announced that it had used the Ethereum blockchain to issue 100 million euros in two-year notes. Last month, JPMorgan analysts revealed in a widely circulated letter on social media that Ethereum was also outperforming Bitcoin as a result of improvements in liquidity conditions and a higher turnover on the public Ethereum blockchain.