Ethereum cryptocurrency has seen its trading value rise sharply over the past day, reaching highs not surmounted for over two months now.
Ethereum Gains Massively, Investors Hungry For ETH
Gaining from round about $340 yesterday early morning, Ethereum peaked at $365 at 10:34 UTC today and while it has since dropped very slightly, its outlook remains strong and positive. The highest figure it reached over the last 24 hours figure is $46 short of the currencies all-time high of $411 from June this year.
Ethereum Surge, What’s Causing It?
What is notable is that the price surge seems at least partly stoked by very enthusiastic trading in South Korea, a region not known for market influencing Ethereum activity.
CoinMarketCap data shows us that out of the top three crypto exchanges by Ethereum cryptocurrency volume, two are Korean. Bithumb and Coinone have seen 15% and 7% of Ethereum trading, respectively. The OKCoin exchange based in China second with a share of nearly 10%.
This falls in line with recent trading patterns from other cryptocurrencies over the last few days. Ripple’s XRP, bitcoin cash and monero have all seen price gains through swelling popularity in South Korea.
While we have seen no fallback but plenty of stagnation over the last weeks or so, bitcoin prices have also seen increased over the last 24 hours and were $4,574 at at the time this article was written.