Ethereum Blasts Through $1,000 as Bitcoin Sheds Over $2,000 in 24 Hours

Ethereum, the world’s second most capitalised digital coin, gained 31.74 percent in the last 24 hours to hit $1,056.10 per coin in the early hours of Monday.

The digital coin total market value rose to $120.51 billion while investors’ volume of trade in the last 24 hours stood at an astonishing $55.88 billion.

The digital asset opened at $795.99 per coin before pulling back from $1,151.07 it traded at the height of rush to $1,056.10 per coin as at the time of writing this report.

In 2021, Ethereum has gained 54.95 percent with 1.23 million total transactions in the last 24 hours.

Also read Why I am Bullish on Ethereum Despite Global Uncertainty

Bitcoin, on the other hand, pulled back from a record-high of $34,544.94 per coin it traded in the last 24 hours to $31,448.30 before paring losses to $32,009.46 as of the time of writing.

Investors traded Bitcoin valued at $8.34 billion in 359,641 transactions at an average transaction fee of $7.87 in the last 24 hours.

Total Bitcoins in circulation rose to 18.59 million, out of the total 21 million expected to be mined.

Institutional investors continued to dump money on Bitcoin for the fear of missing out despite no clear explanation or logic for the recent upsurge in the coin value.