$490: Ethereum Reaches New Record High And Climbing

Ethereum Reaches New Record High

Ethereum has been steadily making news headlines lately, as it has been breaking its own record highs’ every other day.

Source: CoinMarketCap

As per CoinMarketCap, the ETH-U.S. dollar (ETH/USD) exchange rate hit a new high of $493.40 at 06:59:12 UTC. At press time, the cryptocurrency is changing hands at $475.71 and is up 3.76 percent on the day. The price of Ether is up 62.59 percent for the month.

Source: Reddit

The ethereum blockchain is still processing more transactions on a daily basis than all of the other cryptocurrencies’ combined. Last month, the Byzantium upgrade, the first part of a two-part major upgrade the ethereum network, increased the blockchain transaction capacity by eliminating unnecessary information from each transaction, increasing it to around 550,000 transactions a day.

As they continue to work on the second part of the upgrade, anticipated for next year, Ether’s price should continue to climb, despite the current issues with ICO’s that build their tech on the ethereum blockchain.

Featured Image: twitter

Chelsea Roh is a freelance content writer living in Vancouver, BC. Her current focus is cryptocurrency, financial analysis and blockchain technology. In addition to content writing, she is an experienced Social Media Manager/Strategist. Before moving to Canada, she spent 10+ years marketing and working hands on in the medical practice industry.