Ethereum Sets Record Highs, $40 Price and $3.6b Market Cap

2017 has been a wonderful year so far for cryptocurrency investors but this week specifically might be remembered as the best of all time for altcoins. While Bitcoin was able to quickly shake off the bad press from the US SEC rejecting the Winklevoss twins’ ETF application, and stick to the $1200 level, competing Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term tokens have seen their prices and overall values just explode upwards.

The smart contracts and decentralized apps platform Ethereum is now traded at around $40. This is an impressive price record for ETH, which completed a rise of about 40% over the last day and 130% in just one week. In total, the market capitalization of all Ethereum tokens in circulation is worth $3.6 billion.

Already the second most valuable cryptocurrency by market cap, Ethereum is now chipping away in Bitcoin's overall market dominance. At $20 billion dollars the first blockchain is now worth just 75% of the entire cryptocurrency ecosystem. In terms of trading volumes bitcoin is losing even more of its dominance of the market - at $440 million it is just about 44% from the market which saw a about $1 billion worth of Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term and fiat changing hands over the last twenty-four hours period.

This all led to Ethereum advocates, supported by a daily trading volume of $330 million, to cheer at community forums for the upcoming "Flippening" - the moment that Ethereum overtakes the place of Bitcoin in the world. They point to the technological and governance problems holding back Bitcoin from being used as an efficient payment system and to the many new solutions that are based on Ethereum coming out every day.