Jim Cramer, an American television personality and host of the Mad Money program on CNBC, praised Ethereum in a recent interview. He said that the useability of Ethereum is more than other digital currencies.
During a discussion on CNBC’s Squawk Box, Cramer said that he is planning to expand his Ethereum portfolio in the future. He also highlighted the use of Ethereum in non-fungible tokens (NFTs).
The latest statement from Cramer about Ethereum came nearly one week after he announced the selling of his Bitcoin holdings. The American television host bought Bitcoin in December 2020 for under $18,000 to diversify his investment portfolio.
“I went into Ethereum this time. I like ETH because people actually use it much more to be able to buy things. When you go buy NFT or anything like that then everybody wants Ethereum. It’s more of a currency,” Cramer said.
Ethereum saw significant gains in the last 24 hours as the world’s second most valuable digital currency jumped approximately 10% within a single day. As of writing, ETH is trading near $2,170 with a market cap of $250 billion. ETH’s crypto market dominance stands at around 47.5%.
Ethereum Network Activity
The overall activity on the Ethereum network has spiked substantially since the start of this week. According to the latest data posted by Santiment, active ETH addresses surpassed active Bitcoin addresses yesterday. “Following up on yesterday's report on ETH FUD and the buying opportunity we saw, today has marked a historic day. For the first time in the crypto history, ETH address activity is above BTC address activity, as prices have soared back above $2,100,” the company mentioned on Twitter.
Furthermore, ETH whales have increased their transfer activity during the last 24 hours. Whale Alert highlighted a recent movement of 48,386 ETH to an unknown digital wallet. The total value of the mentioned transaction currently stands at around $105 million.
