$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

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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.

If you’d like to learn more about Ethereum, check out this awesome in-depth article about everything you need to know about Ethereum here.

Featured Image: twitter

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