On November 23, the price of Ether, the native cryptocurrency of the Ethereum network, achieved a new all-time high at $415.
Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month.
On November 23, the price of Ether, the native cryptocurrency of the Ethereum network, achieved a new all-time high at $415.
With its recent surge in price, the market valuation of Ethereum has moved closer to the $40 billion mark, a market cap that is larger than seven of the 10 largest cryptocurrencies in the market combined, with the exception of bitcoin and Bitcoin Cash.
The demand for Ether has been evenly distributed across two major markets, South Korea and the US. South Korea’s Bithumb, the largest cryptocurrency exchange in the world by trading volume, has accounted for nearly 15 percent of Ether trades over the past 24 hours.
Alternative cryptocurrencies (altcoins) in the market tend to follow the price trend of Ether. As the price of Ether surged from around $380 to $415, other altcoins followed. The vast majority of altcoins in the market recorded significant gains, especially Bitcoin Cash, Litecoin, and Monero.