The Price of Ethereum Skyrockets: Great News for Cryptocurrency Investors as Ethereum Soars by 83.96%

ethereum price chart

The value of Ethereum has increased this month as it experienced an 83.96% increase. This will be great news for cryptocurrency investors after experiencing a tumultuous trading period. The value of Ethereum has experienced some highs and lows in recent month, but the digital currency is steadily gaining momentum and making steady progress.

The Current Value of Ethereum

At the time of writing, the trading price of this digital currency is $761, it achieved this value after a significant 83.96 percent increase. This shows a huge increase of $347 to its price over the course of last month. In the last seven days, there have been lots of positive trends about the digital currency. The value of Ethereum has increased by 11.94% in the last seven days, which is a price increase of $81.

SEE ALSO:   Bitcoin Price Today USD Live: How much is Bitcoin worth? Latest Price Chart Analysis and Bitcoin Price Prediction 2018 -Wed Oct 17

The All-Time High of Ethereum

Nevertheless, the value of the digital money is still much lower than the enormous highs it got to in January this year. On the 14th of January, the value of Ethereum was $1,338. The digital currency experienced a drastic decline after then, and little increases in the value offer investors hope.

In December last year, Ethereum was trading at $87 before it increased significantly. Recently, a co-founder of Google – Sergey Brin gave credit to ETH mining for contributing to the “boom in computing” which is presently taking place.

SEE ALSO:   Cardano Price Prediction: ADA to Increase by 8,000% by the End of This Year - News Today - Wed Oct 17

Factors at Play in the “Boom of Computing”

Mr. Brin said that there are many factors that contribute to the computing boom. He said the first factor is the steady hum of Moore’s Law. The second contributing factor is the increase in demand for graphics processing units GPUs – which is emanating from gamers looking for high-quality graphics, and also from proof of work algorithms (which are GPU-friendly) that are found in some of the leading digital currencies today, such as Ethereum.


SEE ALSO:   Ethereum Predictions 2018: How High Can The Price Of Ethereum Go? ETH News Today -Wed Oct 17

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3 + 16 =

This site uses Akismet to reduce spam. Learn how your comment data is processed.