Ethereums market cap overtook Bank of America

Cryptocurrency Ether continues to gradually strengthen its position in the general digital currency market. At the same time, the altcoin has already been able to surpass and pass the three thousand dollar barrier.

Most recently, on May 3, 2021, the Ethereum currency rose 10%, bringing its latest value to over $ 3,100. The total cost of all Ether in the world, which is now available to the user, is more than 350 billion dollars.
Ethereum, also called Ether, is the second most popular cryptocurrency after Bitcoin. It is also a kind of platform for the development of various network services. The currency is a complete virtual machine, completely independent. It works on the basis of so-called "smart contracts" and is decentralized. Ether was specially created for this platform and functions as a payment for users.

Ethereum, as mentioned above, operates on the basis of smart contracts, which in turn are based on the blockchain. After the start, the contract turns into a separate, independent program that functions automatically. The code of this platform works stably and clearly. In addition, in the system you can exchange money, sell personal property or shares of any enterprises, if you have them.

The network appeared on the world market back in 2015, when the first "batch" of currency - almost 72 million coins - was made available to the public. Today it has become widespread, and Ether is used by many large corporations around the world. For example, Microsoft, IBM and many others, including startups that have started up.

Today, the level of cryptocurrency capitalization is growing rapidly. One of them - altcoin - has already bypassed Bank of America. By the way, the financial position of this bank is estimated at no less than $ 250 billion. Earlier, Ether has already overtaken such large companies as Walt Disney, PayPal and others.

Financial experts argue that the transition to ETH of the new version will certainly be a landmark event. Making some changes to the software will allow developers to lower the percentage of commission charged and reduce payments to users. According to the project managers, the measures taken will help increase the activity of transactions and slightly reduce the pressure on the cryptocurrency market that miners are exerting.
Already today, Ether is capable of processing over a million transactions per day, and this figure is growing rapidly.