Ethereum Price Hits New All-Time High with Explosive Growth
Ether, the native cryptocurrency of the Ethereum blockchain network, has recorded a $3.8 billion daily trading volume consistently over the past three days. Throughout the past 24 hours, on December 19, the price of Ether surged by nearly 20 percent, from $716 to $840.
With several exceptions such as Bitcoin Cash, NEM, and Qtum, Ether has outperformed almost every cryptocurrency in the market in a short period of time.
Previously, Ether’s global daily trading volume was heavily concentrated in the South Korean cryptocurrency exchange market. Bithumb, Coinone, Korbit, South Korea’s three leading cryptocurrency exchanges, accounted for around 35 percent of global Ether trades.
Recently, the US cryptocurrency exchange market has processed the majority of Ether trades, with Bitfinex and Coinbase’s flagship cryptocurrency trading platform GDAX settling nearly $800 million in daily Ether trades.
Earlier this month, billionaire hedge fund legend and investor Mike Novogratz expressed his optimism towards the mid to long-term growth trend of Ether. Novogratz predicted the price of Ether to triple by the end of 2018, from $500 to $1,500.
Already, the price of Ether has surpassed $850 and moving closer to the $900 mark. Several analysts in the cryptocurrency sector have also noted that Ether is undervalued, given its developer and user activity that are significantly higher than other cryptocurrencies in the market.
With several exceptions such as Bitcoin Cash, NEM, and Qtum, Ether has outperformed almost every cryptocurrency in the market in a short period of time.
Previously, Ether’s global daily trading volume was heavily concentrated in the South Korean cryptocurrency exchange market. Bithumb, Coinone, Korbit, South Korea’s three leading cryptocurrency exchanges, accounted for around 35 percent of global Ether trades.
Recently, the US cryptocurrency exchange market has processed the majority of Ether trades, with Bitfinex and Coinbase’s flagship cryptocurrency trading platform GDAX settling nearly $800 million in daily Ether trades.
Earlier this month, billionaire hedge fund legend and investor Mike Novogratz expressed his optimism towards the mid to long-term growth trend of Ether. Novogratz predicted the price of Ether to triple by the end of 2018, from $500 to $1,500.
Already, the price of Ether has surpassed $850 and moving closer to the $900 mark. Several analysts in the cryptocurrency sector have also noted that Ether is undervalued, given its developer and user activity that are significantly higher than other cryptocurrencies in the market.
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