Ethereum cryptocurrency surged 20 percent to $752 in value in 24 hours, hitting a first time high. 25 percent of the global Ether trades were attributed to the US market with exchanges of Coinbase and Bitfinex processing 23 percent of all Ether trades on the global Ethereum exchanges. At four times larger than Bitcoin Cash, Ether is near to $5 billion in daily trading volume.
Cryptocurrencies a Multi Trillion Market
The financial markets have been transformed by the surge in Bitcoin, Ethereum and other cryptocurrencies which has become a multi trillion.
Prediction by Billionaire Investor
Ethereum blockchain network processes 820,000 transactions per day which is more than all of the cryptocurrencies in the market combined, including Bitcoin. Mike Novogratz a billionaire investor has predicted that Ether will increase three-fold in value throughout 2018 in transaction volume and developer activity.
Vitalik Buterin, co-founder of Ethereum said that the cryptocurrency community needs to collaborate on the improvement of blockchain networks infrastructures and increase developer activity.
Ethereum Useful Beyond Finance
The application of using Ethereum as the base protocol for decentralized exchanges such as CryptoKitties and EtherDelta has been demonstrated with applications that are useful beyond finance. Over the past two months CryptoKitties has processed digital kittens worth $15 million, while EtherDelta has been processing 80,000 on a daily basis.
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Pepperstone provides an optimized platform with leverage up to 1:5 on the following cryptocurrencies:
With these cryptocurrencies quickly rising in value, you can take advantage of this opportunity to get involved with this new instrument class. As a forex and CFD trader, you don’t need to purchase actual cryptocurrencies or even own a digital wallet.
• No commission fees
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*Trading forex and CFDs can be a risk to your investments. You should only trade with money that you can afford to lose.