It seems the Ether harvest is here going by the spike in eth price yesterday as the altcoin season edges closer. It’s now a matter of “how high will ethereum go” which is a stark contrast to the previous queries of “will eth recover?” Also, BTC to eth converter will show that eth price against the BTC has notched up significantly in the last couple of hours. Followers of Ethereum price predictions 2019 could be in for some interesting moments if, in truth, the ether harvest is here. In ethereum price news today, we consider the possible reasons for the latest rise in eth price even as btc seems to have slowed after maintaining a place above the $8k mark.
Ethereum Price Today – ETH to USD
Ether ETH to USD is trading at $261.71, at the time of writing; a whopping 14 percent increase in the last 24 hours. Only days ago, pessimists wondered if ETH had what it takes to reach and stay above $200 mark but somehow ETH price is now so bullish. Put in perspective, ETH has increased by about 54% in the last 7 days—if that doesn’t define ether harvest, what does? The market cap of ethereum ETH currently stands at about $27.4 billion while the daily trading volume is up to over $16 billion, doubling its number a week ago. This begs the question, why is ethereum rising?
Ether Harvest – Why is Ethereum Rising?
Ethereum fans have always maintained that it has a glorious future as the altcoin offers a lot more use case than bitcoin and has a lot more developer base and adoption compared to other DApp blockchains. Looking at BTC to eth converter, it’s easy to note that ethereum has performed better than BTC at least in the past day. While there are a host of factors that can contribute to the eth price surge, two stand out namely, the trust in ethereum blockchain as the future of decentralized applications and secondly the beginning of full-blown altcoin season.
Global electricity Giants EDF Adopt Ethereum Decentralized App – Ethereum News Today
EDF, the fifth largest electricity company, says it is partnering with iExec, a decentralized application launched on the ethereum blockchain. According to a report by blockchain and cryptocurrency news outlet Coindesk, EDF says it is launching its visual simulator software GPUSPH on iExec albeit on a test basis. The adoption of an ethereum-based DApp by the energy giants underscores the preference enterprises place on ethereum for their decentralized applications.
EDF’s simulator explores a field called “smoothed particle hydrodynamics” for modeling fluids which could be relevant for areas like water dams. By using the ethereum DApp, EDF will test how the program operates on a blockchain rather than a more normal computing environment.
Speaking about the promise of DLT Gilles Deleuze an EDF blockchain engineer was quoted as saying:
“…development of distributed computing is a credible scenario for the future, and blockchain may be a nice lever in this scenario”
It’s Not Just an Ether Harvest, It’s an Altcoin Season
On the other hand, Ethereum, the most valuable altcoin by market capitalization, is benefiting from a general boost in altcoin prices following the Bitcoin Bull Run. ETH is not alone in the remarkable surge. Stellar (XLM) which gained a remarkable 24 percent in the last 24 hours leads the top 20 cryptocurrencies on the gainers’ list. XLM price is up by more than 60% in the last 7 days, a testament that it is not just an ether harvest but an altcoin harvest altogether. Most of the top 20 cryptocurrencies have notched up 20% or more gains since last week.