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Ethereum latest update – Record price high makes cryptocurrency founder, 27, a BILLIONAIRE, plus Bitcoin & Dogecoin news

ETHEREUM’S incredible price surge has made its 27-year-old founder a BILLIONAIRE.

Vitalik Buterin now has at least $1 billion worth of the cryptocurrency in his main wallet – making him the world’s youngest crypto billionaire.

Buterin spearheaded the launch of the Ethereum blockchain in 2015.

Ethereum’s cryptocurrency, ether, surged past $3,000 for the first time early Monday morning, marking a 325% rise since the beginning of this year.

Ethereum’s incredible rise came after three years of decline which saw it falling below $100 in April 2020 following a previous high of $1,200 in 2018.

But over the past 12 months the currency has absolutely rocketed.

Boosted by a buoyant market and a strong Bitcoin, Ethereum has absolutely smashed it’s previous high, with forecasters now tipping the currency to hit a staggering $5,000 before plateauing.

That said, as with all cryptocurrencies, there are no guarantees that any investments will make money and in many cases investors has lost absolutely everything they have put into the coins.

Read our cyptocurrency live blog below for the very latest updates…

  • EXPLAINED: HOW RISKY IS CARDANO?

    Like any cryptocurrency, Cardano is a high risk investment because they are unregulated here in the UK. It means you won’t have a level of protection if something goes wrong, plus fees and charges may be higher than regulated investment products.

    Cryptoassets are also complex to understand, making them dangerous for those who aren’t in the know.

    They’re also extremely high risk due to their volatility, meaning they can go up as well as down, so you should only invest if you can afford to lose the cash.

    Ms Streeter said: “Much of the demand for these coins and tokens have come from traders hoping to benefit from future price rises rather than using them as a means of exchange.

    “Gains are often being fuelled by frenzied chat across social media with influencers jostling for position to push their favoured coins. But like a slot machine, many of the coins being pushed into circulation are very much a speculative bet and investors should only get involved if they have money they can afford to lose.”

  • WHY IS CARDANO GOING UP?

    This morning, Cardano peaked at $1.38 (99p) but has since dropped slightly to $1.33 (96p). However, it’s not as high as it was on April 14, when the cryptocurrency hit $1.56 (£1.12).

    Mark Hipperson, founder of cryptocurrency exchange firm Ziglu, explained that it’s the sixth largest cryptocurrency with a market cap of around $45billion (£32billion).

    Over the past 52 weeks, its valuation has increased by 3,360% and since January 1 2021, it has increased 568% in value.

    Comparatively, Bitcoin has gone up by 706% and 93% during the same time, while Ethereum has risen by 1,194% and 204%.

    “The cryptocurrency has seen incredible growth in recent months, which has raised the attention of a number of crypto enthusiasts,” he said.

  • THE SUN EXPLAINS: WHAT IS CARDANO?

    Cardano is a cryptocurrency that uses blockchain, making it difficult to be hacked.

    It was launched in 2017 and set up by Charles Hoskinson, who was one of the eight co-founders of Bitcoin rival, Ethereum.

    Every time someone buys or sells the cryptocurrency, it’s permanently recorded on the platform’s blockchain.

    Unlike some other cryptocurrencies, the blockchain is more transparent so anyone can see it. It’s managed by the Cardano Foundation.

    The “altcoin” has been designed to make sure that investors can have some say in how the currency is run. It means those who own Cardano have the right to vote on any proposed changes to the software, reports Coinmarketcap.

  • EBAY CEO SAYS LOOKING AT CRYPTOCURRENCY AS PAYMENT OPTION – CNBC

    EBay Inc is looking at new payment options for customer – and this will include cryptocurrency.

    Chief Executive Officer Jamie Iannone said in a CNBC interview on Monday that the e-commerce firm is also exploring ways to get in to the business of non-fungible tokens (NFTs).

  • DIGITAL HORSE PRICE INCREASES BY 7713%

    Non-fungible tokens have seen a surge in popularity and have recently advanced to digital horse racing.

    The digital horse ‘Billions’ was the highest sold horse at $125,000 with a price increase of 7713% from its original $1600, according to equestrian accessory specialists at Ruggles.

    Its owner bought the stallion for just four ETH about a year ago – then equivalent to around $1,600.

    But its recent sale saw the owner KingBeaver make a profit of $123,400 – a staggering percentage increase of 7713%. 

  • WHAT IS BITCOIN?

    Bitcoin is a virtual currency with units created by computer code and stored in a digital “wallet”.

    Its value soared this year to over $62,000, in part thanks to a boost by Elon Musk who revealed he had invested $1.5bn in the currency.

    He also said customers will soon be able to use it to buy one of his Telsa electric cars.

    Around 20,000 shops around the world take Bitcoin as well as many retailers online.

  • DOW JONES LAUNCHES NEW CRYPTO INDEXES

    The S&P Dow Jones Indices launched new cryptocurrency indexes today, further mainstreaming digital currencies including Bitcoin and Ethereum by bringing them to the trading floors of Wall Street.

    The new indexes, S&P Bitcoin Index, S&P Ethereum Index and S&P Crypto Mega Cap Index, will measure the performance of digital assets tied to them.

    The list will expand to include additional coins later this year, the division of financial data provider S&P Global said.

    The company first announced the plan in December when it said it would cover more than 550 of top-traded coins and that its clients will be able to create customized indices and other benchmarking tools on cryptocurrencies.

  • MILA KUNIS WARNED ASHTON KUTCHER AGAINST BITCOIN

    Mila Kunis warned Ashton Kutcher against investing in Bitcoin, but said this was “bad financial advice”.

    Speaking on The Late Show with Stephen Colbert, she said Ashton sat her down and said: “Hey, babe, I got to explain this thing to you. Tell me if I’m crazy.

    “There’s this thing, it’s like mining for money. It’s called cryptocurrency, and there’s this company. It’s called Bitcoin.” 

    She said she was concerned about the cryptocurrency not being insured and said it was a “horrible idea”.

    “And he went, ‘Cool, we’re investing in it.’ So he didn’t listen to me. I mean, this happens all the time.”

  • CARIBBEAN ISLAND SET TO BECOME HOME TO WORLD’S FIRST BITCOIN COMMUNITY WHERE YOU CAN BUY HOMES WITH CRYPTOCURRENCY

    A CARIBBEAN island could become the first place in the world to use Bitcoin instead of money. Luxury home owners on Bequia will be able to use the digital cryptocurrency to do their grocery shopping or buy a coffee, developers say.

    A small number of shops around the world already accept Bitcoin as payment and a few houses have been sold using it in the UK.

    But planners say their new development on paradise isle Bequia will be “the world’s first fully Bitcoin-enabled community”.

    The 39 luxury villas will be sold in the cryptocurrency. And Bitcoin will be taken as payment for everyday essentials at the development’s shop, restaurant, café and cinema.

    Locals on Bequia – known as “the island in the clouds” – will continue to use the Eastern Caribbean Dollar, with Queen Elizabeth II on notes and coins.

  • REMEMBER: THERE’S NO GUARANTEES YOU CAN CONVERT CRYPTOCURRENCY INTO CASH

    Another risk is there is no guarantee that you’ll be able to convert cryptocurrency into cash.

    Some crypto firms also overstate the returns on investments – profits are not guaranteed.

    Brits should also be wary they risk losing all of their money if they invest in bitcoin and other cryptocurrencies.

    It comes after a ban on some crypto-related investment products.

    Scammers are also known to take advantage of amateur investors in a bid to steal their cash.

  • EXPLAINED: HOW RISKY IS CARDANO?

    Like any cryptocurrency, Cardano is a high risk investment because they are unregulated here in the UK. It means you won’t have a level of protection if something goes wrong, plus fees and charges may be higher than regulated investment products.

    Cryptoassets are also complex to understand, making them dangerous for those who aren’t in the know.

    They’re also extremely high risk due to their volatility, meaning they can go up as well as down, so you should only invest if you can afford to lose the cash.

    Ms Streeter said: “Much of the demand for these coins and tokens have come from traders hoping to benefit from future price rises rather than using them as a means of exchange.

    “Gains are often being fuelled by frenzied chat across social media with influencers jostling for position to push their favoured coins. But like a slot machine, many of the coins being pushed into circulation are very much a speculative bet and investors should only get involved if they have money they can afford to lose.”

  • WHY IS CARDANO GOING UP?

    This morning, Cardano peaked at $1.38 (99p) but has since dropped slightly to $1.33 (96p). However, it’s not as high as it was on April 14, when the cryptocurrency hit $1.56 (£1.12).

    Mark Hipperson, founder of cryptocurrency exchange firm Ziglu, explained that it’s the sixth largest cryptocurrency with a market cap of around $45billion (£32billion).

    Over the past 52 weeks, its valuation has increased by 3,360% and since January 1 2021, it has increased 568% in value.

    Comparatively, Bitcoin has gone up by 706% and 93% during the same time, while Ethereum has risen by 1,194% and 204%.

    “The cryptocurrency has seen incredible growth in recent months, which has raised the attention of a number of crypto enthusiasts,” he said.

  • CONTINUED: WHAT IS CARDANO?

    Cardano is a cryptocurrency that uses blockchain, making it difficult to be hacked.

    It was launched in 2017 and set up by Charles Hoskinson, who was one of the eight co-founders of Bitcoin rival, Ethereum.

    Every time someone buys or sells the cryptocurrency, it’s permanently recorded on the platform’s blockchain.

    Unlike some other cryptocurrencies, the blockchain is more transparent so anyone can see it. It’s managed by the Cardano Foundation.

    The “altcoin” has been designed to make sure that investors can have some say in how the currency is run.

    It means those who own Cardano have the right to vote on any proposed changes to the software, reports Coinmarketcap.

  • CONTINUED: DOW JONES LAUNCHES NEW CRYPTO INDEXES

    “Traditional financial markets and digital assets are no longer mutually exclusive markets,” said Peter Roffman, global head of innovation and strategy at S&P Dow Jones Indices.

    The indexes will use data from New York-based virtual currency company Lukka.

    Bitcoin, the most popular cryptocurrency, has seen a wild rally in prices after backing from high-profile companies including Tesla and Bank of NY Mellon. Its price, however, has come off its record highs.

    Ethereum, meanwhile, touched a record high on Monday after rising above $3,000 for the first time over the weekend.

  • DIGITAL HORSE PRICE INCREASES BY 7713%

    Non-fungible tokens have seen a surge in popularity and have recently advanced to digital horse racing.

    The digital horse ‘Billions’ was the highest sold horse at $125,000 with a price increase of 7713% from its original $1600, according to equestrian accessory specialists at Ruggles.

    Its owner bought the stallion for just four ETH about a year ago – then equivalent to around $1,600.

    But its recent sale saw the owner KingBeaver make a profit of $123,400 – a staggering percentage increase of 7713%. 

  • WHAT IS CARDANO AND WHY IS THE PRICE GOING UP?

    THE price of Cardano is on the rise – but what exactly is it?

    We take you through everything you need to know about the cryptocurrency and the risks you should be aware of before parting with your cash.

    A word of warning though: buying cryptocurrencies as well as stocks and shares is a very risky business. Investing is not a guaranteed way to make money, so make sure you know the risks and can afford to lose the cash.

    Cryptocurrencies are highly volatile, so your cash can go down as well as up in the blink of an eye – you can lose all the money you put in.

    Plus, some products and cryptocurrency services are very complex. You should only invest in things you understand. 

  • DOW JONES LAUNCHES NEW CRYPTO INDEXES

    The S&P Dow Jones Indices launched new cryptocurrency indexes today, further mainstreaming digital currencies including Bitcoin and Ethereum by bringing them to the trading floors of Wall Street.

    The new indexes, S&P Bitcoin Index, S&P Ethereum Index and S&P Crypto Mega Cap Index, will measure the performance of digital assets tied to them.

    The list will expand to include additional coins later this year, the division of financial data provider S&P Global said.

    The company first announced the plan in December when it said it would cover more than 550 of top-traded coins and that its clients will be able to create customized indices and other benchmarking tools on cryptocurrencies.

  • MILA KUNIS WARNED ASHTON KUTCHER AGAINST BITCOIN

    Mila Kunis warned Ashton Kutcher against investing in Bitcoin, but said this was “bad financial advice”.

    Speaking on The Late Show with Stephen Colbert, she said Ashton sat her down and said: “Hey, babe, I got to explain this thing to you. Tell me if I’m crazy.

    “There’s this thing, it’s like mining for money. It’s called cryptocurrency, and there’s this company. It’s called Bitcoin.” 

    She said she was concerned about the cryptocurrency not being insured and said it was a “horrible idea”.

    “And he went, ‘Cool, we’re investing in it.’ So he didn’t listen to me. I mean, this happens all the time.”

  • WHERE CAN I PAY USING DOGECOIN?

    Apart from exchanges which let you trade Dogecoin, you can in theory use Dogecoin to make purchases. In practice, places where you can pay with Dogecoin are not that common.

    Bitcoin is by far the most popular cryptocurrency and is still only accepted at a handful of locations.

    There are no major brands or shops which accept Dogecoin as payment.

    Basketball team the Dallas Mavericks recently said it will start accepting Dogecoin – fans can buy tickets and merchandise with it online.

    Mark Cuban, the billionaire entrepreneur and owner of the Dallas Mavericks, is a big fan of cryptocurrencies.

  • AUCTION HOUSE SOTHEBY’S TO ACCEPT CRYPTOCURRENCY

    Sotheby’s announced today it would accept Bitcoin and Ethereum as payment for Banksy’s iconic artwork “Love is in the Air”.

    It is understood to be a first for a physical art auction and the latest in a growing list of mainstream companies to accept cryptocurrencies.

    The artwork is anticipated to fetch between $3 million to $5 million, and buyers have the option to pay in digital assets.

  • CONTINUED: WHY IS ETHEREUM GOING UP IN VALUE?

    Investors are betting that ether will be of ever greater use in a decentralised future financial system.

    The cryptocurrency enjoyed record highs every day last month.

    On April 1, Ethereum started at $1,958 (£1,404) and rose to $1,978 (£1,419).

    James Quinn, managing director at Q9 Capital, a Hong Kong cryptocurrency private wealth manager, said Ethereum’s rise is also down to a number of other factors.

    These include improvements made to the ethereum blockchain, and a growing shift towards “DeFi”, or decentralised finance, which refers to transactions outside traditional banking for which the ethereum blockchain is a crucial platform.

  • EXPLAINED: WHO ACCEPTS DOGECOIN AS PAYMENT?

    INTEREST in Dogecoin is growing and its price has surged this year, hitting record highs.

    But who accepts Dogecoin and where exactly can you spend the cryptocurrency?

    Bitcoin is the most well know cryptocurrency and Dogecoin is growing in popularity too. Dogecoin started out as a joke cryptocurrency but has attracted more interest this year among serious investors.

    Cryptocurrency markets have surged this year and Dogecoin’s price has rocketed along with other cryptocurrencies.

    Investing in Dogecoin and any cryptocurrency is very risky.

    Read more here.

  • WHY IS ETHEREUM GOING UP IN VALUE?

    Ethereum has rocketed in value over the course of this year.

    Yesterday it reached a record-breaking high of $3,000 – up nearly 1,500% since this time last year.

    It has climbed even further today to $3,305 at the time of writing, according to CoinMarketCap.

    It came following a report that the European Investment Bank (EIB) could launch a digital bond sale on the Ethereum blockchain network.

    The startling rise means Bitcoin is no longer the cryptocurrency king after being outshone by underdog Ethereum.

  • DIGITAL HORSE PRICE INCREASES BY 7713%

    Non-fungible tokens have seen a surge in popularity and have recently advanced to digital horse racing.

    The digital horse ‘Billions’ was the highest sold horse at $125,000 with a price increase of 7713% from its original $1600, according to equestrian accessory specialists at Ruggles.

    Its owner bought the stallion for just four ETH about a year ago – then equivalent to around $1,600.

    But its recent sale saw the owner KingBeaver make a profit of $123,400 – a staggering percentage increase of 7713%. 

  • WATCH: WHAT IS DOGECOIN?

    What is the cryptocurrency Dogecoin?

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