Ethereum has fulfilled investors’ wildest
speculations to surpass $100 per token as altcoins stage yet another rally.
An initial hover around $80 for ETH earlier
this week gained further momentum to see the asset cross the $100 mark for the first time in its history.
Altcoins across the top ten and beyond reversed
losses triggered by Bitcoin’s price rally, with both Ripple and NEM climbing around 37 percent in the 24
hours to press time on Friday.
ETH has managed to overcome community
misgivings stemming from March’s initial uptick to between $30 and $40. At the
time, speculation was
rife that foul play was artificially inflating prices and that the asset would
soon collapse.
Like Dash before it, however, it appears ETH
is considerably more resilient than many thought.
Amid the hype, entrepreneur Tuur Demeester
highlighted what he called “interesting metrics” showing the daily investment
sums required “in theory” to keep Bitcoin, Ethereum and Litecoin prices stable.
Further surprise climbers meanwhile include
Stellar network’s Lumens, which in June is
due to complete its distribution phase and is up 65 percent from Thursday.
Dogecoin also gained 20 percent over the same
period in what appears to be a reactionary move to overall market gains.
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