Ethereum currency ETH rises to its highest level in 3 years

The Ethereum currency (ETH) rose and hours ago recorded its highest level in 3 years, reaching $4.12 thousand per currency, bringing this cryptocurrency close to its highest record value at a rate not exceeding 20%.

Thus, Ethereum (ETH) currency became the second digital currency in terms of volume in the markets or the second largest digital asset, after it rose by more than 4% on Monday, and this sparked traders’ enthusiasm about breaching a new record level.

ETFs containing ETH are seeing slow growth.

The digital currency’s strong rise in the week came above $4,000, along with BTC, and the latter reached a new record level at $107,000, amid expectations about adopting Bitcoin as a strategic reserve.

Ethereum (ETH) also comes in second place after Bitcoin (BTC) in terms of its rise over the course of a whole year, rising by approximately 80%, and surpassed by Bitcoin (BTC), which rose by 140%.

While Ethereum (ETH) is a technical token that processes layer-one Ethereum network transactions and allows its users to build decentralized applications (dA pps) and create non-fungible tokens (NFTs), BTC is building a reputation as an investment asset with a value of approx. 2.1 trillion dollars, which is only about 300 billion dollars less than the value of a giant company such as Alphabet, the global technology company.

However, ETH is slowly being traded on Wall Street markets and in the portfolios of ordinary investors through the launch of ETFs containing it.

Earlier this year, the US Securities and Exchange Commission issued approval for 9 funds to hold the real Ethereum currency (ETH), and these funds collected about $15 billion in assets, while exchange-traded funds containing the Bitcoin currency BTC have collected more than $100 billion since their launch. Last January.