The second-largest crypto currency by market capitalization behind Bitcoin, Ethereum, yesterday surpassed the previous all-time high of mid-June, of roughly 343 euros per Ether. Currently, the rate is leveling off at around the 350 mark. This month, the Ethereum-rate was up around 38 percent, this week alone, 24 percent. What were the reasons behind the price rally?
The reasons for the price rally of course we can only speculate. However, there are some messages that have had probably a positive effect on the share price.
As Bloomberg a week ago is reported, could Ethereum follow the example of Bitcoin Futures, and the CME, and access to the regulated financial market over a regulated derivatives market. According to the publication Bloomberg Ether is to be a designated stock exchange under the code name “Virtuoso”. Derivatives on Ethereum could attract professional traders and investors who have been reluctant in the unregulated crypto markets to enter.
One reason for the Stagnation of the course until the beginning of November might have been the news of the 200 million Parity-Wallet-Hack, which unsettled investors and pushed more of other currencies. The Hack now seems to forget.
Further positive news was known yesterday, as the Code of Ethereums “Casper” was released on Github. Using Casper, the implementation of the Proof-of-Stakes. The implementation of Casper is an important step in the Roadmap of Ethereum, and is expected by many. Unlike Bitcoin, Ethereum, thus making more major technical advances and continues to expand its technical domination.
In addition, the message that Ethereum currencies currently has more transactions than all the other Crypto-together is spreading on the Internet currently, including Bitcoin handles. While in the case of Bitcoin, around 300,000 to 350,000 transactions per day
can Ethereum be recorded in the last few days, more than 500,000 daily transactions:
So Ethereum may have, according to the bitinfocharts.com in the last 24 hours, 50.7 percent of all transactions in the market, to get without scaling problems. Bitcoin follows with a share of 33.6 percent. Place 3 Ethereum Classic currently with 3.9 percent and 4 Litecoin at 2.9 per cent:
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