The value of all digital currencies is suddenly rising, and the increase in value is not leaving Ethereum behind. Just yesterday, it hits an all-time high of $600.
And it is not just about the value of ether, it is about the increasing popularity of Ethereum’s Blockchain. No wonder many institutions are planning on launching various products on the Blockchain come 2018.
The inside story
Ethereum is the 2nd largest cryptocurrency and also the number two cryptocurrency in terms of market cap. All this ranking was attained in just two years since Ethereum was created in 2015.
When ether tokens were announced in mid-2014, it was worth about $0.30 per token. But now it goes for over $600. Meaning if $1000 was invested in Ethereum back then, it will be worth well over $2 million today. In just 11 months, the value of Ethereum’s currency, ether, has increased by over 6,800%.
So it is not surprising that Ethereum is recording gains just like every other digital currency in these past one month that is marked by a general rise in value for almost all cryptocurrencies.
Ethereum’s Blockchain initiative
UBS said on Monday that it would cooperate with Credit Suisse, Britain’s Barclays, Swiss exchange operator SIX, Belgium’s KBC and data supplier Thomson Reuters on a joint initiative to improve the quality of counter-party reference data with industry counterparts using Ethereum smart contracts.