The Crypto Times
Image default
Bitcoin Ethereum News

Ethereum Price Downtrend Reverses

The price of Ether, the cryptocurrency that powers the Ethereum blockchain, rose above $300 yesterday, rising to a high of just over $307.

Ethereum Sees Price Increase

The price of the Ethereum coin has been declining since its high of over $400 in early June. This high came amid a wave of initial coin offerings (ICOs) on the platform.

Now, Ether appears to be reversing its recent downtrend, rising more than 35% over the last week. Ether is up from the $227 total observed at the start of trading on August 2 and a low of $137 in the month of July.

Connection to Bitcoin Price

This increase in the value of Ether comes during a time when the Bitcoin price is near all-time highs. Bitcoin set a new record yesterday when it rose above $3500 across global exchanges.

The appreciation of both assets is pushing the overall investment in cryptocurrencies with the total value of all publicly traded digital assets reaching yet another all-time high of over $124 billion.

 

Related posts

Republican Leader: Blockchain Can Bring More Efficiency to US Government

Viena Abdon

Microsoft Unveils Blockchain-Backed Manager App

Sierra Sanders

Tread Cryptos with Caution, Warn Analysts

Miles

Ontario Town Approves Property Tax Payments with Bitcoin

Viena Abdon

Payment Exchange Square Ends First Quarter With High Bitcoin Revenue

Viena Abdon

IBM Exec Declares $1M Price Target for Bitcoin

Sierra Sanders

Leave a Comment