Australian Stock Markets
Ethereum has cemented itself back firmly as the second largest cryptocurrency in the world.
It has been in second spot according to CoinMarketCap ever since the website took the controversial decision to exclude the three Korean exchanges from the averages “due to the extreme divergence in prices from the rest of the world and limited arbitrage opportunity.”
Cryptocurrencies generally traded at higher values on the Korean exchanges compared to other exchanges in the USA and around the world. Arguably, this made the prices appear more realistic for English-speaking currency traders, however it affected the market capitalisations of those currencies.
Therefore, Ethereum was catapulted back into second place to replace Ripple. It is the only major cryptocurrency to register any gains over the last day, gaining over 13%.
It remains to be seen which cryptocurrency will eventually be the dominant currency, as Bitcoin is regarded as having inferior technology to some of the new options on the market.
While much of the crypto-market has seen a degression over the past few days, Ethereum has stood strong throughout the bleeding.
On January 4th, Ethereum surpassed the $1,000 threshold for the first time ever. It struggled to maintain above the mark until January 7th when Ethereum shot to over $1,150. Today Ethereum saw gains of over 13% and now sits at roughly $1,310.00
So far Ethereum has had a great start in 2018. It will be interesting to see how far this can go. I've seen price predictions all over the board.
Some think it can reach up to $8,000 by the end of the year. Although the ETH price continues to rally, Ethereum is still facing scaling obstacles that must be dealt with in the near future.
Ethereum processed 1,254,004 transactions in the last 24 hours, the most out of any cryptocurrency. Unfortunately, it is also using over 100% of it's network capacity with over 37K unconfirmed transactions waiting in queue.
On the contrary, the STEEM network proccesed 987,532 transactions and did not even break the 1% network capacity mark.
It has been in second spot according to CoinMarketCap ever since the website took the controversial decision to exclude the three Korean exchanges from the averages “due to the extreme divergence in prices from the rest of the world and limited arbitrage opportunity.”
Cryptocurrencies generally traded at higher values on the Korean exchanges compared to other exchanges in the USA and around the world. Arguably, this made the prices appear more realistic for English-speaking currency traders, however it affected the market capitalisations of those currencies.
Therefore, Ethereum was catapulted back into second place to replace Ripple. It is the only major cryptocurrency to register any gains over the last day, gaining over 13%.
It remains to be seen which cryptocurrency will eventually be the dominant currency, as Bitcoin is regarded as having inferior technology to some of the new options on the market.
While much of the crypto-market has seen a degression over the past few days, Ethereum has stood strong throughout the bleeding.
On January 4th, Ethereum surpassed the $1,000 threshold for the first time ever. It struggled to maintain above the mark until January 7th when Ethereum shot to over $1,150. Today Ethereum saw gains of over 13% and now sits at roughly $1,310.00
So far Ethereum has had a great start in 2018. It will be interesting to see how far this can go. I've seen price predictions all over the board.
Some think it can reach up to $8,000 by the end of the year. Although the ETH price continues to rally, Ethereum is still facing scaling obstacles that must be dealt with in the near future.
Ethereum processed 1,254,004 transactions in the last 24 hours, the most out of any cryptocurrency. Unfortunately, it is also using over 100% of it's network capacity with over 37K unconfirmed transactions waiting in queue.
On the contrary, the STEEM network proccesed 987,532 transactions and did not even break the 1% network capacity mark.
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