Today, the price of Ethereum hit yet another all-time high at $268.40. This morning the currency was trading a little bit below that record figure at $255. Thanks to growing interest in the digital asset space and a big increase in trading, especially in Korea, the price of Ethereum has risen from $8.52 on January 1st, 2017 to an astonishing $247.56 at close today.
The overall price is up nearly 2,800 percentage points from where it began the year, and the future of the cryptocurrency continues to brighten. Tech giant Microsoft has not only shown heavy interest but have also begun supporting the currency.
A major factor behind the surge of Ethereum is Enterprise Ethereum Alliance (EEA). The EEA was founded with the purpose to connect large companies to technology vendors to in order to facilitate projects using the blockchain Ethereum. Besides Microsoft, Intel another tech giant and JP Morgan Chase have also been added to the alliance along with 86 other companies. The number of respected business organizations who have gotten behind the EEA and Ethereum has boosted the legitimacy of the blockchain and has driven increasing interest and thus the prices go up.
Today we got a confirmation from Bloomberg that Ethereum has caught the attention of Vladimir Putin as a potential tool to help Russia diversify its economy beyond oil and gas.
Bloomberg writes: “Virtual currencies could help the economy by making transactions happen more quickly and safely online. Besides being a method of exchange, Ethereum can also serve as a ledger for everything from currency contracts to property rights, speeding up business by cutting out intermediaries such as public notaries.”
Ethereum price performance is amazing: