27-year-old Vitalik Buterin, has emerged as the youngest crypto billionaire in the world.
According to a recent publication by Forbes, the Russian born’s ether address, which he disclosed in October 2018 as his main ether wallet, currently holds 333,520 ETH, worth $1.09 billion at the ether price of $3,278 at 1:30 p.m. ET on Monday.
Presently, the ether cryptocurrency holds $376 billion capitalization in the market; which is a huge improvement since the beginning of the year, largely due to the rising popularity of decentralized finance (DeFi) applications that are aiming to replace traditional financial intermediaries like banks and insurance companies.
Ethereum also faces huge competition from Binance Smart Chain (BSC), and notable blockchains such as Algorand, Cardano, Polkadot and Solana; which aren’t far behind.
The cryptocurrency moved above $3,000 for the first time on Monday morning, eclipsing a 325% rise since the beginning of the year; a notable improvement since the blockchain was created in 2015.
Prior to the success of Ethereum, Vitalik Buterin cofounded Bitcoin Magazine alongside Mihai Alisie, who later joined Buterin in finding Ethereum.