The price of Ether, the cryptocurrency that powers the Ethereum blockchain, rose above $300 yesterday, rising to a high of just over $307.
Ethereum Sees Price Increase
The price of the Ethereum coin has been declining since its high of over $400 in early June. This high came amid a wave of initial coin offerings (ICOs) on the platform.
Now, Ether appears to be reversing its recent downtrend, rising more than 35% over the last week. Ether is up from the $227 total observed at the start of trading on August 2 and a low of $137 in the month of July.
Connection to Bitcoin Price
This increase in the value of Ether comes during a time when the Bitcoin price is near all-time highs. Bitcoin set a new record yesterday when it rose above $3500 across global exchanges.
The appreciation of both assets is pushing the overall investment in cryptocurrencies with the total value of all publicly traded digital assets reaching yet another all-time high of over $124 billion.
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