FACTS ABOUT ETHER: ETHEREUM TOKEN THAT ROSE 900% IN 20173 min read
Some of us have heard of hinted about cryptocurrency (ethereum token) which has taken and presently shaking up the world of finance and internet, not just there alone the but with the promise to decentralized how we used the internet forever, in the world of digital currency, few other coins have come up with their concept and embraced by the digital currency community although they all are and cannot be compared to bitcoin as it has been around (gold status) for a while but they all depend on the blockchain for their daily transactions and the transparency they offer.
Presently, digital currencies are all at an all-time high, bitcoin, ethereum, litecoin, ripple and host of others. In this mainstream is a digital currency referred to as ether (ethereum token), ethereum has not gained much popularity due to the fact that it’s started a couple of years back. An ether cost around $8 dollars back in January 2015 to an all-time high of $200 this year, it has come a long way since it launched.
There are few things to know about this currency:
1. Bitcoin Exchanges offer it
Major exchange houses offer ether, and allows traders trade it on their platform. Poloniex is a perfect example of this which allows the exchange of eth/btc (ethereum/bitcoin) began offering digital currency in 2015. Several other exchanges have adopted it such as Bitfinex, Coinbase, Kraken and Gemini with some of them offering US Dollars trading while others provide their customers with an over-the-counter trading of these digital currencies. Octagon Strategy started its own last March offering clients’ cryptocurrency trading over-the-counter (OTC) and Genesis Trading began their OTC in the year 2016.
2. Ethereum has its own tokens
With the smart contract, this aids developers to issue their own assets on the blockchain network which is the way ethereum was developed, to have people control their own assets independently. This has made sales of token for ethereum-based projects rise rapidly over the course of a year and it’s still gaining more patronage. Looking from this angle, there is a possibility of high interest and demand for ether.
3. Search interest is nearing highs
How does this affect ether price?
Willy Woo (Coindesk Contributor) has put forward that most enthusiast, traders, and buyers Google up the price first before making the plunge. The search for ether has risen sharply in past year, this upward movement coincides with significant pullbacks looking at the trends. Interest in cryptocurrency’s search peaked around March as the search for ether attain its highest point around mid-March.
4. It is not an overnight success
Early 2016, ethereum token “ether” was the second-largest market capitalization of any cryptocurrency, it surpasses the alternative asset protocols (altcoins) like ripple, litecoins according to www.coinmarketcap.com
This upward trend is taking place as the broader cryptocurrency space has attracted significant capital inflows, rising to almost $7bn in value in the first quarter (Q1 2017).