Cryptocurrency values have been surging in the past few months over renewed interest. Speculators are also diving into digital currencies and that’s helping push prices even higher. As a result of this surge, Ethereum price has now crossed $1,000 for the first time ever. The all-time high price was witnessed on multiple major exchanges. It crossed $1,000 after the cryptocurrency rallied over the past few days.
The total market capitalization of the Ethereum tokens, known as ethers, is now more than $100 billion. That’s impressive, to say the least. It joins the list of many cryptocurrencies that are now boasting market caps of several billion dollars.
Ether tokens were hovering around the $700 and $800 mark for much of last month but the price has rallied over the past few days by more than 40 percent. It now represents 13 percent of all cryptocurrencies in circulation.
It remains to be seen whether Ethereum will be able to sustain this level or if there’s going to be a sell-off. It’s hard to predict this with virtual currencies as their values are very volatile.
The first few days of the new year have been very good for some other cryptocurrencies as well, namely Ripple, which is also up significantly compared to last month. It seems that the cryptocurrency rage will continue well into the new year.
Filed in . Read more about Cryptocurrency. Source: techcrunch