On Monday, cryptocurrencies had another weekend with several popular tokens, which rose to new record highs. Ether, the digital currency widely used in the booming irreplaceable token (NFT) trade in recent months, jumped more than $ 3,200 on Monday, making its creator, Russian-Canadian programmer Vitalik Buterin, a billionaire.
As of Monday, Buterin’s public Ether address – which it says will be its main crypto wallet in 2018 – contains about $ 333,500 Ether worth $ 1.029 billion. Self-described NFT collector Justin Trimble said on Twitter that the 27-year-old Buterin is the youngest crypto billionaire in the world.
Buterin is hailed as one of the founding members of the cryptocurrencies and other blockchain applications we know today. Buterin first proposed in a white paper the design of the Ethereum platform in 2013 at the age of 19, aiming to create a common scripting language for developing blockchain-based applications. The development of the first Ethereum network was funded in 2014, and the first version was launched in 2015 with an initial offering of 72 million Ether coins, the platform’s home cryptocurrency.
Today, Ethereum is the most actively used blockchain. And Ether is the second largest cryptocurrency after Bitcoin in terms of market value. Both cryptocurrencies have seen astronomical leaps in 2020 and 2021 as the major financial world, including institutional investors, see crypto as a legitimate asset.
To date, Ether has more than quadrupled in dollars. It now has a market capitalization of $ 364 billion, exceeding that of Bank of America, the second largest bank in the United States.
Last week, Buterin donated 100 Ether tokens and 100 Makers worth more than $ 600,000 to a COVID-19 relief fund for India.