Holy mackerel! Ethereum has fired past the $600 mark! What has happened? Not that we’re complaining, but this is a massive gain for a currency that was misfiring heavily up until a few weeks ago! Just yesterday, the currency was trading for about $570. This, itself, was a massive jump from where the currency was prior. Ethereum has been struggling since early March.
The currency was trading for well over $400 in mid-February, but ultimately fell into the high $500 range a few months later – a couple hundred dollars higher than where it stands right now. I made more research about the daily rising and I put an alert in my coingecko application so that whenever there is a change in price either an appreciation or depreciation in amount. Many investors which have been quite reluctant in investing in ethereum are now on regrets, nevertheless there is still room investment.
Throwing more light on this, I can say that Ethereum is a blockchain based software platform, that hosts a decentralized application store and payment system on its network. Users which use this ethereum system can build distributed applications with no regulation or censorship and makes use of smart contracts to conduct safe and reliable transactions with each other.
By leveraging blockchain technology to create a decentralized application store, ethereum gives all power to its users. Ethereum leverages blockchain by validating and securing all its transactions made in Eth with smart contracts. Smart contracts automatically perform these transactions as long as the users permit this, the permission must be granted by both parties, by this users can conduct safe and reliable transactions without loss of Cryptocurrency.
For the past 24 hours it has risen about 2.7%. There are some facts about Ethereum that some users are not aware of, like the fact that Ethereum is the pioneer for blockchain based smart contracts. Smart contract is essentially a computer code that runs exactly as programmed without any possibility or probability of downtime, censorship, fraud or third-party interference.
Even though as at earlier today by 9:10 am it went way above $620, it is still within the range of $600 above as at right now.
Stay tuned as I bring more updates.