Ethereum, or ether for short, hit a new record high Monday of about $3,200. Ether prices have more than quadrupled in 2021, soaring 325%. Bitcoin has had a great run too this year, doubling in value.
The total value of all Ethereum in circulation is now about $367 billion, according to CoinMarketCap. Bitcoin’s(XBT) market value is $1.1 trillion.
Bitcoin has soared this year in part due to increased adoption by Corporate America. Musk’s Tesla(TSLA) and software firm MicroStrategy(MSTR) have bought bitcoin to hold on their balance sheets. Digital payments giants Square(SQ) and PayPal(PYPL) are letting users buy, sell and hold crypto, too.
And two players selected in this week’s NFL Draft, Heisman Trophy winner DeVonta Smith and defensive end Kwity Paye, also launched NFTs. A portion of sales from Smith’s NFTs will go to charity, he said. Paye has said that all of his NFT sales are going to a non-profit organization.