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Institutional Investors Turn To Ethereum For High Returns As Second-Largest Cryptocurrency Reaches New Price Highs
Summary: Institutional investors are starting to turn to Ether as a store-of-value investment, according to Coinbase's annual review for 2020. The report noted that clients who primarily bought Bitcoin in 2020 have started purchasing Ether at a growing rate for its strong returns. Ether has recently reached all-time-high prices and at the time of writing is ...
Institutional investors are starting to turn to Ether as a store-of-value investment, according to Coinbase's annual review for 2020.
The report noted that clients who primarily bought Bitcoin in 2020 have started purchasing Ether at a growing rate for its strong returns. Ether has recently reached all-time-high prices and at the time of writing is trading hands for $1,320 and is down 2.67%.
“The case for owning ethereum [ether] we hear most frequently from our clients is a combination of, first, its evolving potential as a store of value and, second, its status as a digital commodity that is required to power transactions on its network,” according to the report.
The uptick in Ether investments could also suggest that institutional players are beginning to explore the Decentralized Finance movement which is largely based on the Ethereum blockchain.
By Emily Mason
Tags: Bitcoin,BTC,DeFi,ETH,Ether,Ethereum
Link: Institutional Investors Turn To Ethereum For High Returns As Second-Largest Cryptocurrency Reaches New Price Highs [Copy]
