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Move over, Bitcoin. Ethereum is at an all-time high

May 1, 2021. Summarized by summa-bot.

Compression ratio: 42%. 1 min read.

Bitcoin prices continued their rebound Saturday, rising about 6% to nearly $58,000. But the world's largest cryptocurrency has been overshadowed lately by its younger sibling, Ethereum.

New York (CNN Business)Bitcoin prices continued their rebound Saturday, rising about 6% to nearly $58,000.

The total value of all Ethereum in circulation is now about $333 billion, according to CoinMarketCap. Bitcoin's (XBT) market value is nearly $1. 1 trillion.

While there are thousands of cryptocurrencies -- including the Elon Musk tweet-fueled Dogecoin -- Bitcoin and ether account for nearly two-thirds of the entire $2. 2 trillion global crypto market.

But Ethereum has enjoyed an even bigger surge than Bitcoin because it is the cryptocurrency of choice for the purchases of many non-fungible tokens, or NFTs -- which have taken the art and broader collectibles world by storm.

One NFT piece by digital artist Beeple sold for nearly $70 million at a Christie's auction earlier this year.

Paye has said that all of his NFT sales are going to a non-profit organization.

by summa-bot

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