After struggling to rebound from a previous major correction on October 4, the price of Ether has finally recovered beyond the $300 mark. In the past 24 hours, the price of Ether increased from $297 to $307, by around $20.
Usually, the price trend of Ether tends to correlate with that of bitcoin. However, today, Ether recorded a major daily gain while the price of bitcoin struggled to rebound back to $5,900.
Earlier this week, CCN reported that Blockchain, the world’s most widely utilized mobile bitcoin wallet, integrated Ethereum to allow its users to send, receive, and store Ether.
“Adoption of Ethereum is an important indicator for the mid and long-term price trend of Ether. Earlier this week, Blockchain, the second most popular bitcoin wallet behind Coinbase, announced the integration of Ethereum into its mobile wallet, the most widely utilized bitcoin mobile wallet in the market.”
In the mid-term, the growing adoption of cryptocurrency platforms like Blockchain and the strong performance of Ether in major regions such as South Korea will allow the cryptocurrency to surge in value.