Ethereum latest update – Record price high makes cryptocurrency founder, 27, a BILLIONAIRE, plus Bitcoin & Dogecoin news

ETHEREUM’S incredible price surge has made its 27-year-old founder a BILLIONAIRE.

Vitalik Buterin now has at least $1 billion worth of the cryptocurrency in his main wallet – making him the world’s youngest crypto billionaire.

Buterin spearheaded the launch of the Ethereum blockchain in 2015.

Ethereum’s cryptocurrency, ether, surged past $3,000 for the first time early Monday morning, marking a 325% rise since the beginning of this year.

Ethereum’s incredible rise came after three years of decline which saw it falling below $100 in April 2020 following a previous high of $1,200 in 2018.

But over the past 12 months the currency has absolutely rocketed.

Boosted by a buoyant market and a strong Bitcoin, Ethereum has absolutely smashed it’s previous high, with forecasters now tipping the currency to hit a staggering $5,000 before plateauing.

That said, as with all cryptocurrencies, there are no guarantees that any investments will make money and in many cases investors has lost absolutely everything they have put into the coins.

Read our cyptocurrency live blog below for the very latest updates…

  • NEW CRYPTOCURRENCIES ON THE BLOCK

    There are several new cryptocurrencies on the block which could soon rival bigger newcomers like Dogecoin.

    Here are the five most recently added to CoinMarketCap.

    CrossPad, PolyMoon, Impermax, GreenTrust, and CrossFi.

  • TOP 10 CRYPTOCURRENCIES

    According to market share on CoinMarketCap, these are the top 10 cryptocurrencies right now, and their respective prices.

    1. Bitcoin ($56,364.43)
    2. Ethereum ($3,423.89)
    3. Binance Coin ($657.08)
    4. XRP ($1.48)
    5. Dogecoin ($0.4801)
    6. Tether ($1)
    7. Cardano ($1.34)
    8. Polkadot ($37.42)
    9. Uniswap ($42.40)
    10. Litecoin ($316.43)
  • ID CHECKS MAY BE REQUIRED TO OPEN CRYPTO ACCOUNT

    Face-to-face ID checks may be required to open crypto accounts in Thailand, an industry exec has said.

    The Bangkok Post reported that new exchange users may have to use machines to scan their ID card chips to onboard new customers.

    Poramin Insom, co-founder and director of cryptocurrency trading platform Satang Corp, said the introduction of a “dip-chip” machine, due in September, will require fresh users to scan their government-issued ID cards before opening a crypto account.

    As it stands, users can verify their identifies online.

  • PAY FOR HEALTHCARE IN BITCOIN

    A Spanish healthcare group will start accepting payments in cryptocurrency in what they are calling a “Bitcoin revolution”.

    Biziondo, which specialises in spine treatments, will take bitcoin and other crypto asset payments within its clinical facilities across the country, Forbes Negocios reports.

    It cited a “bitcoin revolution” as the group’s reasoning, as well as management interest in blockchain technology.

    Biziondo general manager said: “It is clear that the bitcoin revolution has already started.

    “In an economic context in which, in 2020, 60% of the world’s money was printed by European, United States and Japanese central banks, a financial disaster will inevitably be reached in approximately 2 or 5 years.”

  • ‘MONEY BEING THROWN AT ANYTHING IN CRYPTO SPACE’

    One expert has said “money is being thrown at anything in the crypto space” after Dogecoin went up by 9,000% from the start of the year.

    The sum of its tokens is now at more than $54 billion.

    IG Markets analyst Kyle Rodda, likened this surge to the tech-bubble mania of two decades ago.

    He said: “What we’re seeing right now is the definition of speculative excess.

    “There’s money being thrown at anything in the crypto space.”

  • DOGECOIN UP 27% IN 24 HOURS

    Dogecoin’s value is up 27% in just 24 hours.

    It is trading at $0.488134 on Coindesk.

  • DOGECOIN AND ETHEREUM HIT ALL-TIME HIGHS

    Both Dogecoin and Ethereum have hit new all-time highs today.

    The increases mean that the combined value of all cryptocurrencies is now great than the market cap of the world’s most valuable company Apple, Yahoo Finance reports.

  • TWO THIRDS OF CONSUMERS PLAN TO USE CRYPTO, SURVEY SHOWS

    Two thirds of consumers are planning to make digital payments using cryptocurrency, a survey has revealed.

    Mastercard found 40% of consumers across North America, Latin America, the Caribbean, the Middle East, Africa, and the Asian Pacific said that they expect to use the assets at some point in the next year.

    The research also found 77% of Millennials are interested to learn more about the crypto market.

    Mastercard said: “Today consumers can buy, sell and trade cryptocurrency as a commodity or investment.

    “Consumers are also increasingly showing interest in being able to spend crypto-assets for everyday purchases.”

  • CONTINUED: ‘BIG PROBLEM BREWING’ IN CRYPTOCURRENCY SPACE

    He added: “I know the provenance of where my wallet coins were mined now and that means I’ve had to take equity positions in miners. I’ve had to start investing in them with the covenants in place that I would like to be paid back in a royalty of a clean coin.

    “There is a huge problem going on in this industry. The industry has done a poor job in lobbying its case around sustainability.

    “Collectively, they’ve done a horrible job. They don’t push back and I’m hoping to be part of that solution. I’m trying to organize now a council of sustainability, certainly where I’ll be investing in the companies that do set sustainable mandates, they will be the ones I invest in and I would like to make them a showcase for the industry that we care about sustainability.

    “There’s no reason a North American miner can’t lead the way and take away the leadership from the Chinese who do not mine sustainably. Until everybody gets on board and stops burning coal to create electricity to mine coin, it’s going to start to have a huge differentiation like oil and water.

    “We have got to fix this industry and we also have to go back to our politicians in various jurisdictions, including Europe, including Canada, including in the states where there’s a threat now that some governors are talking about making Bitcoin mining illegal in their state if they don’t clean up their act around sustainability. So this is a big, big issue in Crypto space right now.”

  • ‘BIG PROBLEM BREWING’ IN CRYPTOCURRENCY SPACE

    There is a “big problem brewing” in the cryptocurrency space, one expert has warned.

    Kevin O’Leary, Shark Tank Investor and Chairman of O’Shares ETFs, told Yahoo Finance there are huge issues surrounding sustainability.

    He said: “Because currently 60% of coins mined in Bitcoin come from China where they don’t care about sustainability and they certainly have issues around human rights. And so there are many institutional clients that do not want to own so-called blood coin from China.

    “And as a result, we’ve got a really interesting situation emerging that the actual provenance of a coin over time one that’s mined sustainably, one that’s mined in the jurisdiction that supports human rights and everything else, the ethics committees approval could be worth more than just a generic coin that can’t prove its provenance.

    “And I’m not sure when that’s going to happen, but I have certainly shifted my holdings. I don’t own random ETFs with blood coin in them.”

  • CONTINUED: WHY IS ETHEREUM GOING UP IN VALUE?

    Investors are betting that ether will be of ever greater use in a decentralised future financial system.

    The cryptocurrency enjoyed record highs every day last month.

    On April 1, Ethereum started at $1,958 (£1,404) and rose to $1,978 (£1,419).

    James Quinn, managing director at Q9 Capital, a Hong Kong cryptocurrency private wealth manager, said Ethereum’s rise is also down to a number of other factors.

    These include improvements made to the ethereum blockchain, and a growing shift towards “DeFi”, or decentralised finance, which refers to transactions outside traditional banking for which the ethereum blockchain is a crucial platform.

  • WHY IS ETHEREUM GOING UP IN VALUE?

    Ethereum has rocketed in value over the course of this year.

    Yesterday it reached a record-breaking high of $3,000 – up nearly 1,500% since this time last year.

    It has climbed even further today to $3,305 at the time of writing, according to CoinMarketCap.

    It came following a report that the European Investment Bank (EIB) could launch a digital bond sale on the Ethereum blockchain network.

    The startling rise means Bitcoin is no longer the cryptocurrency king after being outshone by underdog Ethereum.

  • BITCOIN TRADING VOLUME WAS SEVEN TIMES APPLE’S IN APRIL

    Bitcoin’s trading volume was seven times that of Apple’s in April 2021, according to research firm Finbold.

    The cryptocurrency’s volume was $1.84 trillion for the month – significantly above Apple’s $249.22 billion, the report revealed.

    Experts pointed to the fact that Bitcoin can be traded 24 hours a day while trading in Apple and traditional stocks is limited to just five days a week, except on market holidays, Insider reports.

    The Finbold report said: “The record price level partly explains the high trading volume compared to Apple. The new price might have influenced investors seeking short-term gains with people looking to make quick money.

    “Furthermore, the fear of missing out on the asset’s rally also set in.”

  • ‘GREEN’ CRYPTOCURRENCY CHIA LAUNCHES

    A new “eco-friendly” cryptocurrency has launched, named Chia.

    It doesn’t need extensive electricity and high-end hardware to mine, making an energy efficient decentralised blockchain.

    It was created by the inventor of BitTorrent, Bram Cohen, and is based on the so-called “proofs of space and time” which uses vastly less energy than proof of work.