Ethereum Price Tops $900 on CoinBase Exchange
The Biggest Smart Contract Platform
In the past three months Ethereum has tripled in price. It started just along $255 three months ago and now is trading over $800. It seems that price increase hasn’t stopped yet. Some exchanges are posting numbers well above market price. On CoinBase exchange for example, the price broke through the $900 mark. It’s obvious that some investors are looking for alternative assets to invest besides Bitcoin as a Top cryptocurrency. They are looking a rational way to devirsify money.
Ethereum was first launched in 2015 and it is known as “Ether.” It represents a “Smart Contract Platform,” while Bitcoin is considered to be a payment platform. A smart contract is simply a piece of software that executes an action, and once executed cannot be stopped/altered. The contract can be audited and verified as it is all code. It does exactly what the developer says.
Ethereum & CoinBase Effect
Many investors see Ether as a haven for their newly found gains from Bitcoin. As the Coinbase Exchange has listed Ethereum on its platform, the investors have an opportunity to easily convert their current holdings to Ethereum. However, Ether has its problems too.
Earlier this month, CryptoKitties pressed the network against its limits. As a result, Ethereum users saw fees approaching $1 or higher, which is completely unheard of for most cryptos, especially Ethereum. We’ll see in the coming weeks whether this rally has any substance behind it, or if it is just a pump and dump.