The price of ether set a new record on April 3, passing the $ 2,100 mark. According to CF Benchmarks, Ether hit $ 2,106 that day after more than a week of continuous gains.
The Ethereum network’s native token rose 32% from March 25, 10 days before its new price record.
Ether’s lead to its new all-time high was marked by bullish news. Visa announced it will be running a trial that will allow credit card partners to settle their accounts with USDC, an Ethereum-based stable coin. The first such agreement was made by the Crypto.com exchange and announced on March 28th.
Prominent investor Mark Cuban commented on his long-term belief in ether in a podcast. In a talk on “The Delphi Podcast” published by the cryptocurrency research company Delphi Digital, the Cuban believes that ether is “the closest thing to a real currency.”
The Cuban stated that he believed that smart contracts, a key feature of Ethereum, “changed” the game for him. They can be used by developers to create decentralized financial applications and non-fungible tokens. They also allow developers to cycle through new applications over time, which makes the Ethereum network similar to the internet itself.
The Cuban said he started collecting ether four years ago but wished he had “bought it sooner”.
Nevertheless, the Cuban portfolio comprises 60% Bitcoin to 30% Ether, the rest is made up of other tokens. He said he saw Bitcoin as the gold substitute he believed to be his value-added inventory.
“If you can get people to believe that it is a better alternative than gold because of its algorithmic scarcity, the price will go up,” he said. The Cuban said he never sold his bitcoin but did not say when he first bought the cryptocurrency.
Ether’s previous high on February 20 was $ 1,960. This means that the new record price level has exceeded its previous high by seven basis points.