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Home CryptoCurrency Canadian tech company invests nearly $ 80 million in Ethereum

Canadian tech company invests nearly $ 80 million in Ethereum

Ether Capital Corporation, a technology company based in Toronto, Canada, completed an investment fund of almost $ 80 million in Ethereum’s native cryptocurrency, ether (ETH).

This Monday, March 15, the company completed a purchase for about USD 20 million, by acquiring 11,264 ETH. Ether Capital reported on the purchase through a press release , published this Tuesday.

The new round of investment occurred at an average price of 1,741 dollars per coin, and completes a position of 43,512 ETH in total , exposes the text. At the moment, the average price for the total position is unknown. However, at the current price of ETH, the investment is equivalent to USD 78.71 million.

Brian Mosoff, CEO of Ether Capital, assured that “Ethereum has had an unprecedented year”. In this regard, he alluded to “a number of fascinating use cases, such as decentralized finance (DeFi) and non-fungible tokens (NFT).”

As Mosoff sees a value in Ethereum, more Beyond even its cryptocurrency, this company’s commitment to this network does not end with this investment. The director of the company himself assured, quoted in the press release, that “Ether Capital intends to make a more substantial commitment of its balance of ether”.

To do this, they will delve into the staking of ETH on the Ethereum network. Since December of last year, this company ventured into the staking of the next version of the network, Ethereum 2.0, as reported in your moment through a statement.

Ethereum cryptocurrency performance in 2021

As has happened with bitcoin, ETH has had a remarkable price performance so far this year 2021. After starting the year just above USD 730, the cryptocurrency of the Ethereum network practically tripled its price at its highest point so far.

During the month of February, ETH set a new all-time high of price (ATH), when it passed $ 2,000 for the first time in its history. At the time of writing this article, the price of the second cryptocurrency with the largest market capitalization is around $ 1,800, according to the price index available on CriptoNoticias.

The wave of institutional investment that has featured bitcoin seems to be expanding now to the second most valuable cryptocurrency. This coincides with the progress of the Ethereum network and the date set for the inclusion of new improvements in the fork called Berlin.

Before Ether Capital announced its purchase of 20 million dollars in ETH, and this medium had already reviewed the investment of Meitu, a Chinese mobile applications company. The company bought more than USD 22 million in ether after considering it as a potential gateway to the ecosystem of decentralized applications (dApps) that run on this network. Of course, as a store of value, they invested about USD 18 million in BTC.

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Sandra Loyd
Sandra Loyd
Sandra is the Reporter working for World Weekly News. She loves to learn about the latest news from all around the world and share it with our readers.

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