Ether Hits New Record Price High Over $900 Following Month of Strong Growth
Ether (ETH), the native currency of the Ethereum platform and the third largest cryptocurrency by market cap, reached a new all-time high today, trading at $914 earlier this morning. At press time Ether was trading at an average of $889 and boasting a 16.26 percent increase in price in the past 24 hours.
In the past month, the price has seen over 100 percent growth, increasing from around $440 on Dec. 1, 2017 to today’s highs.
Ether’s price had been fluctuating between $200-$400 since May 2017. The altcoin’s steady upward growth started in mid-December 2017, and the coin hit its previous record high of almost $880 on Dec.19, according to coinmarketcap.com.
The third-largest cryptocurrency has seen astonishing growth this year, its market cap growing from $698 mln to today’s $86 bln, a 12,000 percent increase. On Jan. 1, 2017 the price of Ether was $8.
Today’s price peak took place amidst increased ETH trading volumes, notably in Asia. At press time, Singapore-based exchange Coinbene was in the lead, boasting 24-hour trading volumes of $600 mln, almost 11 percent of overall Ether trading volumes. Hong Kong/Tokyo-based exchange Binance is also seeing a notable trading volume of almost $360 mln, with South Korea-based Bithumb close behind with 24-hour volumes around $340 mln at press time.
Meanwhile, the entire cryptocurrency market is seeing growth today, with most of the top 20 altcoins showing 24-hour increases, several around 30 percent and one as much as 83 percent. Bitcoin (BTC) is showing a humble 4.25 percent price increase, and BTC dominance hit an all-time low today of 35.9 percent.