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The Ether Again Crosses the Threshold of 1000 euros – Could it Soon Set a New Historical Record

This Sunday, January 28, late afternoon, the Ether – the native currency of the Ethereum network – had appreciated more than 12% over the last 24 hours .

The asset had crossed the threshold of 1250 dollars (about 1000 euros), just 170 dollars from its historic record of 1420 dollars, reached January 13 last.

At the same time, Ether passed over the symbolic threshold of 0.10 BTC .

Nevertheless, the Ether was still well below its record against Bitcoin, recorded on June 18, more than 0.15 BTC .

The ” Market Cap ” associated with the Ethereum network was thus again equal to 60% of that of the Bitcoin network :

Ether was the second most traded currency in terms of volumes – with the equivalent of more than $ 5 billionthat had changed hands in the past 24 hours.

And there are two South Korean platforms, Bithumb and Upbit , which were at the top of the exchange markets, through the ETH / KRW pair. The OkEx Hong Kong platform followed with the ETH / USDT pair.

It was surprising not to see the asterisk usually contiguous to pairs related to the South Korean won. Indeed, CoinMarketCap had decided a few days ago not to take into account these prices, which were judged by some observers to be “disconnected” from those prevailing in other markets.

The surprise THETA

Among other factors, Ether benefited from its growing use to “trade” cryptocurrencies . Binance was among the first to integrate many Ether-related trading pairs, and most major platforms now offer this opportunity.

The sixth Aether market was tied to the THETA / ETH pair , which represented more than $ 200 million in volume – a somewhat surprising figure for an asset valued at only $ 152 million.

So far relatively confidential, this project – which aims to offer a decentralized YouTube – seems to have attracted many investors. And similar to other ERC-20 tokens , the majority of the exchanges were made to and from the ethers.

The arrival of the proof of stake in a few months with the Casper update

This increase could also be related to the upcoming arrival of the Casper update .

This validation system demonstrated challenge ( “Proof-of-Stake”), which could be in place this summer, is already effective on the “testnet” of Ethereum for several weeks. If Casper’s arrival had been accompanied by some problems, its primary functionality – namely its ability to reach a consensus among network members – seems to be working well, according to what the co-founder of Ethereum, Vitalik Buterin .

He also said that “a lot of work has started on the Sharding side ” and that the arrival of this feature was at a ” good enough ” stage .

The Sharding  aims to help the network  cope with the scalability problems it may encounter, by ensuring that each Ethereum node only needs to store a fraction of the entire blockchain .

One can think that the appreciation of Ether found today can be linked to this good news. Investors have probably tried to integrate these elements to raise the price they are willing to pay to obtain the main asset of this network  – and wondered what valuation Ethereum could expect, in the coming years, if these evolutions were correctly implemented.

It remains to be seen if the “flippening” announced by some, who would like the valuation of Ethereum exceeds that of Bitcoin, could one day take place.

The post The Ether Again Crosses the Threshold of 1000 euros – Could it Soon Set a New Historical Record appeared first on 5 to 9 News.



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