Cryptocurrencies had another wild weekend with several popular tokens reaching new all-time highs on Monday. Ether, the digital currency widely used in the booming non-fungible token (NFT) trade in recent months, surpassed $ 3,200 on Monday, making its creator, Russian-Canadian programmer Vitalik Buterin, a billionaire.
On Monday, Buterin’s public Ether address – which he says is his main crypto wallet in 2018 – contains around 333,500 Ether worth $ 1.029 billion. Self-proclaimed NFT collector Justin Trimble said on twitter Buterin, 27, is now the world’s youngest crypto billionaire.
Buterin is hailed as one of the founding members of the cryptocurrencies and other blockchain applications we know today. Buterin first proposed the design of the Ethereum platform in a white paper in 2013 at the age of 19, with the goal of creating a general scripting language for developing blockchain-based applications. The development of the first Ethereum network was crowdfunded in 2014, and the first version went live in 2015 with an initial supply of 72 million Ether coins, the platform’s native cryptocurrency.
Today, Ethereum is the most widely used blockchain. Ether is the second largest cryptocurrency after Bitcoin in market value. Both cryptocurrencies have seen astronomical surges in 2020 and 2021 as the world of consumer finance, including institutional investors, embraces crypto as a legitimate asset.
Since the start of the year, the value of Ether has more than quadrupled. It now has a market capitalization of $ 364 billion, surpassing that of Bank of America, the second largest bank in the United States.
Last week, Buterin donated 100 Ether and 100 Maker tokens, worth over $ 600,000, to a COVID-19 relief fund for India.