Plus   Neg

Ethereum Price At Highest Level In 7 Months

ethereumprice may16 lt

Ethereum (ETH) reached its highest level - $273 - in more than seven months on Wednesday.

The last time the world's second largest cryptocurrency traded above this value was on September 4, 2018.

ETH is changing hands at the time of this writing at $256.76 against US Dollar on Coinbase.

Several altcoins have benefited recently by Bitcoin's exciting bull run.

Ethereum seems to have gained the biggest in terms of value among the top cryptocurrencies in the recent strong upward movement in the market, as it fattened by 54 percent in price in the past one month.

A drastic change was witnessed in the last few days, when the digital currency moved rapidly upward by more than 47 percent, or $80, from $170.

The cryptocurrency, native to the ethereum blockchain, currently has a market capitalization of $27.64 billion, according to CoinMarketCap data.

There is also a significant increase in its 24-hour trading volume - $17.33 billion.

That is quite higher than that of XRP, the next largest cryptocurrency, which has an average 24-hour trading volume of $5.06 billion, and a market capitalization of $17.88 billion.

The main reason attributed to the latest surge in price is Samsung's confirmation of extending Ethereum support to its range of Galaxy phones.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT