Crypto Investors Turn to Ethereum as Alternative to Bitcoin
On 5/10/21 at 2:18 PM EDT
Ethereum, the world s second largest cryptocurrency, soared to a record high Monday as investors placed their bets on the coin s future in commerce and looked for an alternative to Bitcoin s lofty valuation.
In mid-day trading Monday, Ethereum fetched $4,148.44, just off the record high of $4,172.10 It s up 7.06% in the last 24 hours and 449.81% this year. The market cap is $480.72 billion, CoinDesk reported.
Elon Musk, CEO of Tesla, speaking at a satellite conference in March 2020. Tesla announced in an SEC filing in February that it had bought $1.5 billion worth of Bitcoin, and would start accepting Bitcoin as a payment method for its products.