The price of ether, the second largest Cryptocurrency By market capitalization, today’s price hit $ 1,005 the high point of a weekend bender that increased its price by a few hundred dollars. Coinbase showed Eth briefly hit that price at 23:38 UTC before falling below $ 1,000.
While proselytizers and vultures have been circling BTC since Christmas, Ethereum Thanks to its strong performance, the company is well on its way to surpass its all-time high of $ 1,432 set in January 2018. This was the last time ETH hit $ 4 against the dollar before posting a triple-digit decline in early February 2018.
The success of Ethereum today and the success of most of the other great alters Coins, is the result of Bitcoin’s Bull run. Altcoins often track Bitcoin’s Price given Bitcoin’s dominance over the market. Merchants are “looking for the next BTC,” said Nimrod Lehavi, CEO and founder of crypto payment company Simplex, in a previous conversation with Decrypt.
Is ETH’s runaway success the start of a new “old season”? Dogecoin up 70% on Jan 2nd. The price of VeChain rose over 20% today, while there was also roughly a 10% gain Litecoin and manufacturer.
Meanwhile the price is from XRP, formerly the third largest cryptocurrency by market capitalization, continued to rail against a lawsuit filed by US securities and Exchanges Commission at the end of last month. After the suit XRP quickly fell from his long-cherished position as the third largest cryptocurrency by market Capitalization. It currently holds fourth position, but is jockeying for that position Litecoin, the Bitcoin spinoff that flipped it recently.
However, Bitcoin has seen the greatest growth. That weekend alone, the price rose by $ 4,000. While this could be down to bookkeeping while on vacation, it’s the cherry on the cake that drove Bitcoin to over 300% of its $ 10,500 early October value.
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