May 12, 2021

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ETH, Vitalik Buterin the world’s youngest crypto billionaire

2 min read

With the price of ETH (ETH) soaring above $3,000, its co-founder Vitalik Buterin is becoming an ever-greater billionaire

In fact, according to what can be publicly seen thanks to the transparency of the blockchain world, Buterin’s portfolio on Etherscan shows more than 330,000 ETH which, at the current price, exceeds $1 billion

Vitalik Buterin and the success of ETH

Thanks to his own project, developed over the years, the second-largest crypto by market capitalization has soared above $3,000, making Buterin the youngest crypto-billionaire in the world

Not only that, this increase in price, which at the time of writing is $3160, has made Ether’s market capitalization a whopping $357 billion. A figure that surpasses the likes of the Walt Disney Company and Bank of America. 

A +34% for ETH’s market cap in just one week, but still short of the $1 trillion market cap of BTC, the queen of cryptocurrencies.

ETH’s boosts over the past week

This all-time high bullish trend for ETH is the result of an eventful week. First of all, the improvement of the ETH on-chain fundamentals project itself, which attracted market whales and made the ETH gas fee cheaper.

But even the interest in the project by major institutions. Such as the declaration of the EIB or European Investment Bank to launch a sale of Digital Bonds on the ETH blockchain network.

Specifically, the EIB plans to issue a €100m two-year digital bond, with the sale to be led by Goldman Sachs, Banco Santander and Societe Generale.

The continued interest in DeFi with a $72.58 billion TVL or Total Value Locked, is also affecting the price of the crypto of the ETH Virtual Machine

Predictions on the ETH price remain optimistic. But there is certainly no shortage of competition either. Such as Changpeng Zhao’s crypto, Binance Coin (BNB) and its Binance Smart Chain. 

However, considering ETH’s stellar results, the exchange platform is also celebrating a new ATH or all-time high for ETH. 

The post ETH, Vitalik Buterin the world’s youngest crypto billionaire appeared first on The Cryptonomist.

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