The digital currency markets are in the midst of repeating last week’s astounding bull run, but this time there’s a twist.
The former was introduced in 2011 as more lightweight clone to Bitcoin, while Ethereum is a different sort of distributed ledger software that is a popular platform for so-called token sales or “initial coin offerings.”
One possibility is that the buying spree represents speculators, many of them based in Asia, deciding that bitcoin has become too expensive and looking for a proxy.
In the case of Ethereum, though, some are speculating that a decision by big banks, including UBS, to launch a compliance program is driving the price increase.
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- Move over, bitcoin. Here comes litecoinCNNMoney
- Ethereum and Litecoin are growing like crazyMashable
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- Riding Bitcoin's rally: Smaller digital currencies Litecoin, Ether get big boostDallas News (blog)
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- Bitcoin Rally Boosts Smaller Cryptos Litecoin, Ether to RecordsBloomberg
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