Published on 11 January 2018
Ethereum notched a new record high of US$1,417.38 yesterday, marking a 60% surge over the past week and a more than 13,000% increase over the past year, according to CNBC.
Ethereum now has a value of US$131.5 billion, making it the world’s second biggest cryptocurrency in terms of market cap.
Ethereum is growing in popularity among investors due to its utlilisation in smart contracts, initial coin offerings (ICOs), and other applications.
Thomas Glucksmann from cryptocurrency exchange Gatecoin commented: “Ether’s price rally is a testament to the growing popularity of ethereum as a platform for decentralised applications. Over the last year and a half, we’ve seen that the majority of tokens issued during ICOs and traded on exchanges, have been coded to run on the ethereum network.”
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