After being on red for a couple of days, Ethereum investors finally have some reasons to be happy, as the cryptocurrency’s price managed to register an almost 10 percent increase in the last 24 hours. This could be a sign that ETH is ready to shake off a long period of highly oscillating values.
At the time of the writing, one Ethereum token is valued at $581.11, while the total market cap is over $57 billion, thus registering a 9.18% increase. All this rapid growth predicts a possible dramatic comeback, as the prices have tumbled by more than 10 percent of the course of the last week, according to Express.
Things aren’t that bad for ETH!
Over the last month, things went even worse for the virtual money, as a token lost over $300 from its initial value. However, despite this loss, the long-term market trends show that Ethereum has still made a lot of significative gains over the last 12 months. Specifically, we’re talking about an exponential 1250.37 growth, compared to March 2017, when one ETH was selling for just $40.
Ethereum is not alone though, as three more top 10 coins joined it in this rapid growth process. Bitcoin has increased by 4.64 percent, while Bitcoin Cash and Litecoin are also on the green, rising by 5.39 percent and 3.97 percent respectively.
However, the world’s second cryptocurrency, in terms of market cap, is aiming to set itself apart from its competitors, through the open source architecture which allows third-parties to more easily harness it.
Will the last coin ever be mined?
Currently, in an attempt to keep Ether inflation levels from rising uncontrollably, the currency has limited issuances to around 18 million coins. Bitcoin, on the other side, is capped at 21 million coins. Basically, one the final token will be mined, there will be no more.
At the beginning of 2017, the Enterprise Ethereum Alliance (EEA) was formed, in order to put together all the companies who want to take advantage of the cryptocurrency’s blockchain technology. Some of its most important members are JP Morgan, Microsoft, Intel, or BP.