Thompson once wrote, “There is nothing in the world more helpless and irresponsible and depraved than a man in the depths of an ether binge.” He was referring to the intoxicating drug, not the cryptocurrency.
That has raised some concerns that ether has risen too far, too fast, just like bitcoin did in 2017 before plunging spectacularly in 2018.
“Why is there so much interest in ether right now? With the explosion of NFTs, people are viewing alternatives to bitcoin like ether as a real utility.
Coinbase, the giant crypto brokerage firm that recently went public, is now supporting transactions for Tether and USD Coin, two so-called stablecoins that are pegged to the dollar.
He said that up until recently, new cryptocurrency investors only cared about bitcoin.
S&P Dow Jones Indices has validated cryptocurrencies as well.