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Thread: Ethereum Price Roars Past $700 as Crypto Market Value Rivals That of Facebook

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    Default Ethereum Price Roars Past $700 as Crypto Market Value Rivals That of Facebook

    The Ethereum price crossed a major milestone on Tuesday, surpassing the $700 mark for the first time in more than a month.

    The rally was far from an isolated occurrence, as the cryptocurrency market cap achieved an eight percent advance, adding nearly $33 billion to its rapidly expanding waistline. In the past week, the market has added almost $100 billion.

    At present, the combined value of all cryptocurrencies is $430 billion, which puts the nascent asset class within striking distance of Facebook, who incidentally, a recent MIT Technology Review article suggested could take down Bitcoin if it made a coordinated effort.

    The Bitcoin price continued to lose market share to its peers, and the flagship cryptocurrency now accounts for just 37.1 percent of the index’s total valuation. Nevertheless, Bitcoin continued to post a steady advance, rising approximately six percent to $9,367 on cryptocurrency exchange Bitfinex. Bitcoin now has a $159.5 billion market cap, and many analysts predict that it will continue to grow throughout the year.

    The Ethereum price, meanwhile, beat the index by nearly two percentage points en route to a 10 percent surge that carried the coin above $700 for the first time since mid-March. The Ethereum price is now trading at $704, which translates into a $69.7 billion market cap and a 16.3 percent share of the index.

    source https://www.ccn.com/ethereum-price-r...t-of-facebook/
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