Now Ethereum Hits Value Of $1000- Another Record Made In VC World

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Even after some of the global exchanges are constantly warning against dealing in cryptocurrency on the back of mere speculation in the financial instrument, these virtual currencies are not shying away from making new records.

Now Ethereum Hits Value Of $1000- Another Record Made In VC World

Read more about ethereum or ether cryptocurrency

And after ripple has hit the second spot in terms of market capitalization globally, ethereum or ether digital currency has made a record by crossing the value of 1000 in US dollar terms for the first time. It even touched the USD 1042 level.

The surge of 40% has in the value of ethereum currency has been recorded in just a week as the currency in the last week was trading close to USD 750 mark.

After being the second most valued digital currency it was only recently replaced by digital currency ripple which surged by upto 50000% in the last 12 months.

Read More Cryptocurrency Ripple Reaches Record High

With this rise in value, the market cap of ethereum now stands only next to ripple with a combined valuation of more than USD 102 Billion.

However due to the introduction of other cryptocurrencies, these once main digital currency instruments are fast losing their market share to other new virtual currencies. This hold true for Bitcoin virtual currency as well.

Read more about: cryptocurrency, bitcoin, ethereum, ether, ripple
Story first published: Saturday, January 6, 2018, 10:21 [IST]
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