This is why Ethereum is growing so rapidly

It is no coincidence the sudden surge in value that Ethereum has experienced in recent days, reaching over $ 3,000 for the first time and approaching new highs in view of the next few days. At the basis of everything, in fact, there is an initiative of the European Investment Bank (EIB), a real institution for the banking / financial world. This is a bond announced at the end of April, when the news sprang up investments in the second largest cryptocurrency in the world .

The promises were already high before : the EIB’s descent into the field has done nothing but breath the trumpets.

The EIB uses the Ethereum blockchain

The bond is described in the specific sheet available on the EIB website. This is a real momentum on the part of the EIB, an experiment similar to what has already been done in the past with new financial instruments of an innovative nature. In this case, a two-year bond has been created that Societe Generale, Santander and Goldman Sachs will be able to manage.

A peculiar feature of the bond is its digital nature: the possibility of managing everything through the public Ethereum blockchain should lead to the cancellation of intermediaries that slow down the procedures and weigh on the costs of the same. The aim is therefore to make transactions more efficient, something which – if confirmed – could certainly inject further value into the Ethereum system and give life to new uses of cryptocurrency in the banking sector.

This was enough for investors: the value of Ethereum immediately jumped upwards , thanks to an element of consolidation that was able to reassure the potential of the instrument and transform the EIB initiative into a sort of public endorsement of great institutional value. For cryptocurrencies, all of this equates to gasoline being thrown into the fire and the fire soon broke out: Ethereum grew by 8% in the last 24 hours and by 37% in the last week.

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Wilbert Price

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