Ethereum Cryptocurrency Surges 20% to $752

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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*Trading forex and CFDs can be a risk to your investments. You should only trade with money that you can afford to lose.

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