EXCLUSIVE – If 2017 was the year that brought bitcoin into mainstream finance, will 2018 be the year for ether?
Powered by the Ethereum blockchain, ether started the new year on a positive note, hitting an all-time high of $914 today, according to CoinDesk’s Ethereum Price Index.
While the currency’s price has wobbled since then, trading at about $889 as of 10am ET, ether’s value has increased over 16% in the last day or so according to data from CoinMarketCap.
Throughout the last year, ether has also remained somewhat more stable than its older cousin bitcoin, which experienced a series of staggering highs as 2017 progressed. Bitcoin began the new year at a decline for the first time since 2015, according to reports.
Ether’s rising value puts in in the top three cryptocurrencies presently being traded across the globe, according to CoinMarketCap, with a corresponding increase in trade volumes: several exchanges in Asia are reporting “notable increases,” CoinDesk reports.
As the digital currency that runs on the Ethereum blockchain, ether has traditionally experienced both less popularity and less trouble than bitcoin from mainstream financial firms.
The currencies, which were developed for different purposes, have also been dealt with differently by these institutions: banks and startups have experimented and invested much more in the Ethereum blockchain than they have in ether.
Conversely, the bitcoin blockchain has been largely ignored by banks for enterprise, especially over the last year, as more consumers continued to invest in bitcoin.
However, ether’s current price rise could see the digital currency taking a more permanent place in mainstream finance. The currency is already the token of choice for a good chunk of Initial Coin Offerings (especially as no one really wants to spend their bitcoins).
Ether’s current price stands at $892.43, up over 17% as of 10:20 am ET today, data from CoinMarketCap states.
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