The price of ether, the cryptocurrency of the ethereum network, has surged over the last week, rising to the most in more than eight months and approaching a new all-time high – even as digital currencies like bitcoin and dash have generated significant visibility through their own sharp price gains.
Ether prices have risen as much as 59% during the week, reaching $20.67 at roughly 10:44 UTC today after opening slightly above $13 on 25th February, CoinMarketCap figures show. At the time of report, ether had pulled back somewhat, but was still trading roughly 50% higher for the week at $19.54.
As a result of its rally, the digital currency’s price reached its most elevated level since mid-June 2016, when ether prices traded an all-time high amid the hype surrounding distributed organization The DAO.
This week saw the formal launch of the Enterprise Ethereum Alliance, drawing members from major financial services, software companies, and firms in the oil and gas industries.
The group aims to apply ethereum’s fundamentals to enterprise-grade blockchain implementations.
The project’s launch helped give ether’s a boosts, market observers told CoinDesk. Tim Enneking, chairman of Crypto Asset Management, said of the development:
“The launch of the Alliance definitely fueled most
Read more ... source: CoinDesk
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