ethereum2 - Ethereum Hits New All Time High and Recovers Second Position in the Market

Ethereum Hits New All Time High and Recovers Second Position in the Market

Ether, one of the most known cryptocurrencies in the market, has registered a new all time high after reaching $1260 dollars on January the 8th. This currency has also recovered the second position by market capitalization surpassing Ripple. At the moment of writing this article, it is being traded around $1200 dollars and it has $116 billion dollars’ market capitalization. Less than three months ago, Bitcoin had crossed the $100 billion dollars’ market capitalization value.

Some other cryptocurrency exchanges with premium prices have ben listing Ethereum at higher prices ($1,500 dollars).

Ethereum Recovers the Second Position

After some days with the cryptocurrency market losing part of its value, Ethereum has reached new all time highs. This is good news for the cryptocurrency environment. Ethereum is a platform widely used by several developers around the world and enterprises. It is used to transact smart contracts and it allows ICOs to run their tokens within the platform. And let’s not forget, that Ethereum allows CryptoKitties, the cat game moving millions of dollars, to work!

The price surge has given energy to the community to find a solution to the scalability problem that it is going to face soon. As the network is being used every single day more, the developers must find a solution on how to reduce fees and transaction times. As reported by UseTheBitcoin, Vitalik Buterin is taking this topic seriously and giving it priority.

The intention is to maintain the security features that the network provides at the moment but reduce the time processing each transaction. If the developers find a good solution to scale the network, it will be easier for Ether to keep increasing in price. More enterprises are using this technology so as to pay suppliers. Other individuals and investors are using the platform because of the smart contracts, the fast transactions and the low fees compared to Bitcoin.

The ICO market is also increasing and the use of cryptocurrencies too. Cryptocurrency exchanges are not able to accept new users because they can’t deal with the high demand. Developers are working hard in order to keep offering good quality services, but in many cases, they are not able.