Ethereum price climb Monday to $407.10, a record high, largely on the growing investment in cryptocurrency driven in large measure by bitcoin. Monday’s record high marked more than a 5,000 percent gain this year for Ethereum, which was trading at under $8.00 in January.
Posting close to a 14-point gain in the last 24 hours, Ethereum was closing in on bitcoin, which suffered nearly a 10-point drop in the last 24-hour period, according to coinmarketcap.com. By the end of the day Monday, Ethereum’s market cap was $36.447 billion, compared to $43.997 billion for bitcoin
Ethereum price surged Monday to $407.10, a record high, largely on the growing investment in cryptocurrency driven in large measure by bitcoin. Monday’s record high marked more than a 5,000 percent gain this year for Ethereum, which was trading at under $8.00 in January.
Posting close to a 14-point gain in the last 24 hours, Ethereum was closing in on bitcoin, which suffered nearly a 10-point drop in the last 24-hour period, according to coinmarketcap.com. By the end of the day Monday, Ethereum’s market cap was $36.447 billion, compared to $43.997 billion for bitcoin.
Source: Coinmarketcap.com
Ethereum’s long-term rise has followed bitcoin’s, which traded above $3,000 on Sunday, also a record.
Pavel Matveev, co-founder of Wirex, told CNBC the strong interest in bitcoin has boosted investor interest in alternative cryptocurrencies that are delivering better gains. The expansion of ICOs has also raised awareness of altcoins