The European Investment Bank (EIB) announced a plan to sell a “two-year digital bond” on Ethereum’s blockchain network for a total value of up to 100 million euros.
An analyst tweeted that the digital bond issuance will be led by Goldman Sachs, Santanderand Société Générale.
Based on a Reuters report, SFOX cryptocurrency broker Danny Kim believes that the issuance of digital EIB bonds will trigger an upward trend as the supply of Ethereum declines. He said:
“The amount of Ethereum sitting on exchanges continues to decline and was the lowest in the past year. With less supply available on exchanges, the likelihood of a larger sell-off is less.”
The ether continued to rise for three consecutive days. Stimulated by this news, the cryptocurrency hit a record high of $ 2,718. At the time of writing, the price of ETH has gone down, trading at $ 2,617.
According to Coinmarketcap, Ethereum, the second largest digital asset in the world at $ 301,838,265,041, is up 13.04% as measured by market cap over the past 7 days.
Currently, the average transaction or gas fees for the Ethereum network are beat a 3 month low below $ 10. The decline in gas charges and the revival of the Decentralized financing The (DeFi) market also contributed to the price increase.
The popularity of DeFi protocols based on the Ethereum blockchain led the gross and net worth of Ethereum smart contracts to hit record highs of $ 73.19 billion and $ 55.12 billion, respectively.
Based on the Bybt data, most of the put options focus on around $2,400 exercise prices. The call options are valued at around $ 2,560.
At the same time, the call / put ratio is 1.36, which indicates that there are more investors enthusiastic about ether Market outlook that makes Ethereum more bullish than bearish.
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