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October 23, 2018

The price of cryptocurrency Ethereum rose to record value

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EthereumThe world’s second-largest cryptocurrency, Ethereum, reached a record high after investors continue to avoid the Bitcoin. The Ethereum rose by 10% in one day to 1,249.50 USD, according to data from Bitfinex cryptographic trading. Currently, this is the second largest cryptocurrency by market capitalization after it was temporarily overturned last week by Ripple. The Ethereum reached a total market value of 100 billion USD for the first time last week.

The series of records for the cryptocurrency come in the background of searching for alternate of the Bitcoin. Bitfinex’s latest price of Bitcoin is 14,888 USD, with a reported decline of nearly 8% on Monday.

The digital currencies dropped in the beginning of the week after the CoinMarketCap website unexpectedly pulled South Korean stock prices out of the average cryptocurrencies prices calculations.

The Ripple reported a 18% drop to 1.96 USD after losing 13.36% on its first day of the week. Its highest value was the 3.28 USD on January 4. For the past year, the Ripple rose by 32,000%, outpacing the growth of the Ethereum and the Bitcoin by 9,000% and 1,400%, respectively.

Bitcoin’s highest value was a little over 20,000 USD on December 17, and despite the subsequent correction, the largest market-capitalized cryptocurrency has total value of 257 billion USD.

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