The world’s utility crypto has broken new highs skyrocketing to a new all-time high on reports that the European Investment Bank is creating a “digital bond” sale using the Ethereum Blockchain.
At Wednesday’s trading session, Ethereum traded at $2,703.06 on the FTX exchange with a daily trading volume of $33 billion. Ethereum is up 3.00% for the day and the utility crypto currently has a market value of $313 billion at the time this report was drafted.
For the week, Ether has gained about 12% amid strong buying pressures from crypto traders and global investors. In a report credited to Reuters the €100 million (roughly $121 million) digital bond issuance of two-year notes sales will be led by Societe Generale, Goldman Sachs and Banco Santander.
The European Investment Bank joins a number of leading institutions that have entered the cryptoverse lately, using crypto technology for debt issuance.
Ethereum was founded in November of 2013 by Vitalik Buterin and has recorded over 1200% gain in the past year, attracting a lot of developers and apps amid the bullish trend playing out in the crypto market.
Ether’s love among institutional investors is based on its high utility fundamentals. The DeFi is the hottest and the trendiest thing in the cryptoverse since 2020. Ethereum blockchain also maintains the leadership status as almost all DeFi projects are based on Ethereum blockchain.