Ethereum has today reached the $1,000 mark for the first time.
The news comes following Vitalik Buterin’s (co-founder of Ethereum) blog post on Tuesday where he stated that the Ethereum foundation (which is not for profit) will be issuing grants to support research into scaling the Ethereum network. Buterin has often expressed concerns about scaling the blockchain and the challenges that he and his team seek to overcome. In his latest blog, Buterin wrote:
The Ethereum community, key developers and researchers and others have always recognized scalability as perhaps the single most important key technical challenge that needs to be solved in order for blockchain applications to reach mass adoption. Blockchain scalability is difficult primarily because a typical blockchain design requires every node in the network to process every transaction, which limits the transaction processing capacity of the entire system to the capacity of a single node.
This project which will provide grants in order to assist further development and research, although still at a very early stage, is a big step in the right direction.
More investors are now becoming accustomed to ‘alt coins.’ It is no longer just Bitcoin that is getting all of the attention which has benefited the price of Ethereum and assisted greatly in its recent bull run.
On August 31 2017, when Ethereum was priced at $380, we stated the following:
We would not be surprised to see Ethereum reach $500 per coin in the near future and possibly $1000 by the end of the year.
Whilst Ethereum didn’t reach $1000 by 31 December 2017, it has not been too much longer since it has!
Ripple’s XRP – Has seen the price fall today as an announcement from Coinbase states they have no current plans to add ‘additional assets to either GDAX or Coinbase.’ Rumours had been circulating that Coinbase would be adding XRP on Monday.
Bitcoin – The price is up by over 10% (currently at $16,515 according to coinmarketcap.com)
NEO – Has reached the $100 mark (we aim to post more in relation to NEO in the near future).
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