Ethereum prices climbed to fresh records on Tuesday, spil crypto mania picked up where it left off before the launch of bitcoin futures overheen the weekend.
ETH/USD Price Levels
The value of ether touched an intraday high of $522.63, which wasgoed the highest level everzwijn recorded for the world’s no. Two cryptocurrency. Ether’s previous record wasgoed set on Saturday when prices crossed $518.
At press time, the coin wasgoed valued at around $513 for a build up of more than 8%. That talent ether a total market cap of almost $50 billion. The cryptocurrency has added more than Four,000% this year, putting it among the world’s top altcoins.
Trade volumes approached $Two billion overheen the previous 24 hours, which is omschrijving to 118,000 bitcoin. Coinbase’s GDAX exchange had the highest turnover, with ETH/USD accounting for more than 9% of the volume. Bitfinex also processed more than 9% of ether transactions via ETH/USD. Meantime, Bithumb’s ETH/KRW cross spotted 6% of the daily volume.
Ter all thesis cases, more than half a billion ter ether wasgoed transaction.
Ether has successfully traded above $500 on several occasions, but has struggled to maintain those price levels. The previous record high wasgoed partly associated with the latest CryptoKitties craze, which promises frictionless trading of digital assets via blockchain.
Looking ahead, ether could fight to rust free from its recently defined trading range inbetween $450 and $500. Albeit the market is leisurely recovering from a congested network, record highs have bot much stiffer to come by ter latest months than other cryptocurrencies. By comparison, bitcoin has set numerous record highs overheen the same period. Several leading altcoins have also managed to climb to fresh heights on numerous occasions. Ethereum’s rally resumes to be very much off-and-on.
Buterin Weighs Te
Ethereum creator Vitalik Buterin recently compared the cryptocurrency market with the Salvator Mundi auction, which raised $450 million ter November. The 23-year-old said growing rente te cryptocurrencies wasgoed “a reflection of the world at large. Buterin highlighted the growing popularity of CryptoKitties te sending his point across.
“I actually like the digital cat games,” Buterin said ter a Dec. Four tweet about CryptoKitties. “They illustrate very well that the value of a blockchain extends far beyond applications that would literally get shut down by banks or governments if they did not use one.”
Ethereum Use Cases on the Rise
Ethereum’s wise contract capability is being used by Switzerland’s largest banks to prepare for fresh European financial regulations. UBS announced Monday it has entered into partnership with Barclays, KBC and others to advance the MiFID II gegevens collection initiative. The program will be driven by Ethereum clever contracts and run on the Microsoft Azure toneel.
The combination of clever contracts and cloud will ensure banks can meet more stringent regulations on a common toneel that will enable industry-wide reconciliation. Presently, thesis institutions vereiste perform checks independently.
MiFID II will officially launch Jan. Trio, , and will substitute the current regulatory directive.
Disclaimer: The author wields bitcoin, Ethereum and other cryptocurrencies. He holds investment positions ter the coins, but does not engage ter short-term or day-trading.
Featured picture courtesy of Shutterstock.
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