Ethereum Price Increases beyond $700

268

According to the latest finance news, on Tuesday, 24th April 2018, Ethereum crossed a noteworthy point of reference outperforming its previous $700 stamp. In the previous week, the crypto market included nearly $100 billion. However, with the cryptographic money advertise was able to achieve an eight percent progress that helped add $33 billion to its rapidly increasing waistline.

As Ethereum prices continued soaring, this positive outcome helped push the cryptocurrency market up. While Ethereum saw an unexpected increase in its value, bitcoin still continues to lead the charge in the crypto market trading at $9258.

According to the latest finance news, Ethereum Broke $700 Record for the First Time

The Ethereum price is now trading at $704 which translates into a 16.3 percent share of the index and a $69.7 billion market cap. Currently, the combined value of all the cryptocurrencies is $430 billion that put the early resource class inside striking separation of Facebook. According to a recent MIT Technology Review article stated could bring down Bitcoin in the event that it made the right efforts.

SEE ALSO: Top Surprising Places You Can Splurge Your Cryptocurrency

Ethereum valued at $704 is currently the second largest cryptocurrency in spite of Bitcoin constantly losing its value to its companions. Along with Ethereum, its companions Ripple too swelled by seven percent along with Bitcoin cash with an eight percent climb and the Litecoin cost expanding to a nine percent. April is a crucial month for the crypto market with US tax deadline threatening to derail its 2018 plan. In spite of this Ethereum cryptocurrency has managed in price this week.

Some analysts have stated that ether’s transaction woes are limiting its upward momentum. The platform currently only supports around 15 transactions per second. For Ethereum to generate mainstream appeal it will most likely have to increase its transaction capacity.

Keep reading iTMunch for the latest news, updates and blogs.