Ethereum Rises In Value Again

Ethereum has been trying to reach the $400 value in recent time but has been struggling in the process of doing so. Right now the cryptocurrency is rising in value again thanks to South Korean market support and from the ongoing development of the currency’s network.

Ethereum is growing in popularity as it has moved up from around $300 at the start of October to nearly $350. This makes for one of the best rises for the currency in recent time. It is riding off of the strong momentum that many other similar currencies have been going through.

 

Network Development

 

A key aspect of Ethereum comes from how the currency’s network has been developed extensively. The creation of the Metropolis hard fork has been a big part of getting the currency to grow. The ZK-SNARKs cryptographic system has been utilized to improve upon the security of the system.

 

The Metropolis hark fork is especially important to the development of the currency. The Ethereum community has long preferred the hard fork structure over the soft fork version. This is used to perform regular maintenance on the bitcoin network and to also improve upon the general blockchain network it uses. This especially comes as soft forks are far too difficult to manage and are not easy to run.

 

International Worries

 

South Korea and China have both been concerning to many people in the Ethereum field. This comes as those two countries have been very suspicious about currencies. China has particularly outlawed ICOs in recent time and continues to be aggressive on how it is run.

The South Korean exchange market also lost some of its value in recent time. It has recovered recently to include around a third of the world’s trading volume for the currency, thus making it the largest trader of Ethereum in the world. The growth in South Korea’s share is helping to build upon the currency’s value in spite of that country’s ongoing concern about whether cryptocurrencies should be fully legalized.

 

Bitcoin Momentum

 

While international concerns are strong, there is belief that Ethereum could rise alongside the bitcoin, another currency that has been heavily hyped up in recent time. As the bitcoin becomes easily accessible through many online exchanges, it is expected that other currencies like Ethereum will grow just as well.

 

In addition, the move by Coinbase to allow American bank accounts to take care of cryptocurrency transactions has made it easier for such currencies to be traded. This in turn may expand upon the value of Ethereum as the volume increases. Still, the currency will have just as much of a risk of losing value as it would have of rising.

 

The rise in the value of Ethereum and the excitement coming from its potential growth will be important for people to watch for. This comes as Ethereum continues to be a prominent coin option that could be enticing and distinct for anyone to invest in. International developments still have to be reviewed though to see how well the currency may work.

Written by Michael Fox

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