Ethereum reaches new all-time high

According to the data provided by Coinmarketcap, Ethereum is the main reaper of the fruits of situation around Ripple: today, it has reached its absolute all-time high of 1,417 USD. In December of the past year, its trend was bullish as well, but not as vertical as it became approximately two days ago.

Thanks to Ripple’s critics, Ethereum has regained its position, but this growth might have been caused by some other factors - no one should exclude the simple volatile nature of cryptocurrencies which allows to grow and fall by percents unimaginable on the fiat market. Anyway, Ethereum’s price is growing, and Steven Nerayoff, one of its founders, told CNBC that it might grow even further towards 3,000 USD by the end of 2018.

If Ethereum’s jump is indeed because of the price reduction of Ripple, this perfectly illustrates how one cryptocurrency can benefit from the fall of another one. The race for the top places in the list of most capitalized cryptocurrencies will only continue, and possible new coins can also transform the situation in the future. For instance, Litecoin was number three for a long time, but then Bitcoin Cash arrived and drove it out - only to find itself driven out by Ripple afterwards.