Another all-time high in the Ethereum price today: Ethereum hit $249. We remain convinced that this is real-life demand for Ether kicking in as opposed to an Ethereum bubble that some pretend is developing.
Interestingly, CNBC had extensive coverage on Ethereum today. The media outlet reported that:
- Vitalik Buterin, the founder of Ethereum, recently met with Russian President Vladimir Putin. Both gentlemen discussed how to apply Ethereum in Russia, something that should underpin regulation and government intervention which should drive the price of ethereum.
- 38 percent of trading volume in ethereum is coming from South Korea, according to industry website CryptoCompare with rising interest from other Asian regions.
- Asia has a particular interest in Ethereum. According to the founder of Gatecoin, “all major Asian exchanges are currently overwhelmed by the sudden growth in our client base and trading activity.”
Moreover, according to another article on CNBC, it appears that an entity named i2 Storj SPV raised $2.4 million from a group of 30 investors. CNBC reported this based on a filing with the SEC. The firm behind the vehicle is Iterative Instinct Management, a New York-based hedge fund that specializes in cryptocurrency and blockchain technology. That indicates that investment demand is picking up slowly but surely, and that is fully in line with the underlying drivers explained in InvestingHaven’s Ethereum price forecast of $1000.
And there was more news today: the global blockchain technology market will grow 11-fold by 2021 to $2.3 billion from $210.2 million last year, according to research firm Market Reports Hub. That underpins the the growth of Ethereum and its price.
Also on Techcrunch today, we found out that, even if many organizations are invested in leveraging Ethereum to serve as a basis for privatized versions, the overarching goal is that one day, each institution’s private networks will be connected to the global Ethereum blockchain. This will establish a new universal benchmark for information transactions.
Any coincidence to find out today that Ethereum’s price hit all-time highs, and is closing the day inches away from its highs?