• Download the Constitution of Pakistan
  • Advertise
WRITE FOR US
Economy.pk
No Result
View All Result
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos
No Result
View All Result
Economy.pk
No Result
View All Result
Home Business

Cryptocurrency ethereum is flourishing but still risky

by News Desk
May 8, 2021
in Business, Economy
Reading Time: 1 min read
ethereum
Share on FacebookShare on Twitter

Ethereum has left behind major digital currency rivals this year, bolstered by the surge in decentralized finance (DeFi) and the anticipation of a technical adjustment this summer, but it faces hurdles that could stall its rise.

With a jump of more than 350% in its price this year, ethereum has the second-largest market capitalization after bitcoin, but not as much cache and perhaps more operational challenges that could prevent it from eclipsing its major rival.

In the crypto world, the terms “ethereum” and “ether” have become synonymous. Technically, ethereum is the blockchain network in which decentralized applications are embedded, while ether is the token or currency that enables or drives the use of these applications.

Ethereum’s market cap on Friday was $410 billion, second to bitcoin’s at more than $1 trillion, according to data tracker CoinGecko.com. It hit a record high of $3,610.04 on Thursday and was last up 1% at $3,524.

Bitcoin, meanwhile, has risen a more modest 97% this year. Since hitting an all-time high of just under $65,000 in mid-April, bitcoin has actually fallen roughly 18%.

A rise in institutional interest has increased ethereum demand, but supply has been limited. The token’s supply in exchanges in April hit its lowest in nearly 2-1/2 years, according to Kraken Intelligence, a research blog from cryptocurrency exchange Kraken.

Tags: BitCoinblockchainCryptocurrencyDigital CurrencyEthereum
News Desk

News Desk

Related Posts

Pakistan Stock Exchange Seeks Clarification from PIA on Privatization Plans

Pakistan Stock Exchange Seeks Clarification from PIA on Privatization Plans

The Pakistan Stock Exchange (PSX) has raised concerns and addressed a letter to Pakistan International Airlines (PIA) regarding the issue...

Pakistan Signs Free Trade Deal with Gulf Cooperation Council

Pakistan Signs Free Trade Deal with Gulf Cooperation Council

The Gulf Cooperation Council (GCC) and Pakistan have "initialized" a free trade deal, according to the GCC through messaging platform...

September inflation seen at 29-31pc

September inflation seen at 29-31pc

In Pakistan, inflation is expected to be about 29-31% in September, according to the Ministry of Finance's monthly report released...

Karachi's Port Qasim Makes History with Arrival of Its Biggest Cargo Ship, a Massive 355-Meter Vessel

Karachi’s Port Qasim Makes History with Arrival of Its Biggest Cargo Ship, a Massive 355-Meter Vessel

For the first time, Karachi's Port Qasim received a cargo vessel measuring 355 meters at one of its ports. For...

Discover the Top-Ranked Airline in Pakistan: Check the Rankings Here

Discover the Top-Ranked Airline in Pakistan: Check the Rankings Here

On Thursday, the Pakistan Civil Aviation Authority (CAA) issued Pakistan airline rankings for 2023 based on flight punctuality. According to...

100 Omani Rials to Pakistani Rupees: Today's Exchange Rate

100 Omani Rials to Pakistani Rupees: Today’s Exchange Rate

Introduction Currency exchange rates play a pivotal role in the global economy, affecting international trade, tourism, and investments. For individuals...

Next Post
Mother's Day

Whatsapp rolls out its 'Mama Love' sticker pack for Mother's Day

Please login to join discussion

Recent Posts

  • ICC Unveils Star-Studded Commentary Panel for the 2023 World Cup
  • China’s top scientist says India lying about Chandrayaan-3 landing
  • The World’s Longest Tunnel: A Marvel of Engineering Connecting Switzerland and Italy
  • Pakistan reach squash final in Asian Games 2023 for the first time in 13 Years
  • Pakistan Stock Exchange Seeks Clarification from PIA on Privatization Plans

Advertisement

Twitter

Economy.pk

Economy.pk is a source of economic, political, business, finance, health and sports updates.

Categories

  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos

Privacy & Legal

  • Privacy Policy
  • Cookies

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin
  • About
  • Advertise
  • Contact

© 2023 Economy.pk

No Result
View All Result
  • VIDEOS
  • World
    • Europe
    • Americas
    • Asia
    • Oceania
    • Africa
    • Middle East
  • Finance
  • Politics
  • Business
    • Economy
    • Finance
    • Entrepreneurship
    • Real Estate
  • Technology
    • Cyber Security
    • Mobiles
    • Social Media
  • Education
  • Sports
  • Life & Style
    • Personalities
    • Art
    • Culture
    • History
    • Entertainment
    • Fashion
    • Food
    • Health
      • Environment
      • Fitness
  • Sponsored

© 2023 Economy.pk