Ethereum Hits New All-Time High Above $2,700

Ethereum (ETH) hit an all-time high of $2,702.91 minutes before press time on Tuesday night.

What Happened: The second-largest cryptocurrency by market capitalization traded 7.93% high at $2,707.55 at press time in a 24-hour period. On a seven-day trailing basis, it has risen 16.12%.

Bitcoin (BTC), the apex cryptocurrency, traded 3.42% higher at $55,601.40.

ETC is up 262.77% since the year began, while BTC has risen 90.4% in the same period.

Why It Matters: ETH is continuing to see momentum after the European Investment Bank (EIB) announced plans to offer a two-year bond on the blockchain associated with it.

See also: How to Buy Ethereum (ETH)

Goldman Sachs Group Inc GS, Banco Santander, S.A. SAN, and Société Générale Société anonyme SCGLF SCGLY are the mandated joint lead-managers for the sale.

A hard fork of the Ethereum blockchain that would significantly lower transaction fees went live in mid-April, Coindesk reported.

ETH is outperforming BTC this year, up about 271.3% YTD compared to the apex cryptocurrency's 89.4% gains. The cryptocurrency backing the namesake blockchain and smart contract platform has a market dominance of 14.8% as of press time, as per CoinMarketCap data.

Market News and Data brought to you by Benzinga APIs

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