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Thursday , 21 September 2017
Breaking News

Ethereum challenges Bitcoin with 3000% growth

Bitcoin has been in news for a while now since it has registered greater returns in the recent past where it is believed few hundreds of dollars of investment a few years back is worth millions now. It has also registered more than 150% growth in this year alone. It became so immensely popular that the recent ransom ware attackers have demanded Bitcoins from the companies which were affected by this. There were also anonymous people who had threatened IT Major WIPRO to pay them Rs.500 crore worth Bitcoins else the life of their employees are at stake.

Having seen all the above, it would come as a surprise that Ethereum, a rival which also functions inline with Bitcoin has outclassed its competitor by registering a staggering 3000% growth this year alone. Th market capitalisation value of this is pegged at USD 21 Billion.

“All major Asian exchanges, including ours, are currently overwhelmed by the sudden growth in our client base and trading activity,” Aurelien Menant, founder, and CEO of Gatecoin said. 

The crypto currency’s value reached an all-time high of $250.41 over the weekend making it a 30 times rise since it was valued at just USD8 on January 1.

Enterprise Ethereum Alliance (EEA) was recently founded to connect large companies like Microsoft and JP Morgan to technology vendors wherein JPMorgan is already working on implementing its ethereum-based system to facilitate the transfer of funds between the company’s global branches.

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