Bitcoin falls? Ethereum grows

The second most popular cryptocurrency in the world, Ethereum, has almost reached a two-month high today. This is directly connected to uncertainty that surrounds the future fate of Bitcoin and its prolonged bullish trend that has lately shown the first signs of its end.

Coinmarketcap shows that Ethereum prices fluctuated between $330 and $347, the latter price being its highest sine June 23. Benjaim Roberts, the chief executive of Ethereum-based Citizen Hex company and one of its founders, told that he thinks that the gains in Ethereum are indeed connected to the “increasingly fractured bitcoin community”.

Source: CoinMarketCap

The Ethereum blockchain is actively upgraded, with Vitalik Buterin as a lead developer. Lately, in an interview with Web users on The Next Web, he talked about some of these updates. One of the most anticipated updates is called Metropolis, it will improve transaction swiftness. This attention the developers pay to the protocol might be one of the factors why the market is confident in Ethereum.

The growing interest to Ethereum in Souteast Asia, namely, in South Korea and Thailand, has undoubtedly played its role in this current growth too.