Ethereum Market Report: US$ 7.61 Sets New ETH High, Half Billion Market Cap Exceeded

ethereum

US$ 7.61 sets new high. Half a billion $USD market cap exceeded.

Price brief
ETHUSD $ 7.61 sets new high.

US$ 585,397,869 market capitalization
Half a billion US$ dollars says Ethereum is the next coin. The highest ETH market capitalization ever recorded coincided with new all time high prices of US$ 7.61094176 on Po1oniex up 16.17% in 24 hours and US$ 7.35001000 on Kraken up 4.48% on trading of 57,606.27 Kraken ether.

The lid blew off the Ethereum top again as the announcement of the new Homestead release sent prices skyrocketing to all time highs. A flurry of media publications faithfully reported the news and added to the hype with new reports of previous month record ETH prices.

Up 16.38% in 24 hours
For the few exchanges prescient enough to carry ETH, life was rosy. EthereumWisdom.com is reporting ETH up 16.38% in 24 hours:
ethereum
Data courtesy EthereumWisdom.com

Stack that up with the February 178% increase (yes that is one hundred and seventy-eight), and last week’s 24% increase – and you have tantalizing numbers particularly for speculative trading.

If you had purchased 1000 ether at 2.29 for $2290 on February 01, it’s current valuation on March 02 would be $7610 at the time of writing.

Analysis
Record highs are likely to result in profit taking. Lower prices are likely for a short window. Increased monthly demand could result in modest overall March increase.

Result of doing nothing
Those who sat on the sidelines refusing to buy ETH at near weekly and all time highs – lost out on a weekly 24% increase.

Last price
The last price at the time of writing is:
ethereum
Data courtesy @KittyBitcoin

Daytrading with potential
The trading prices are still manageable enough for daytraders and exciting enough for new investors to take a closer look.

Take a closer look
Want to get started trading in bitcoin or ether?

ethereum

  1. register for a Gatecoin account & deposit funds
  2. receive a USD$10 gift from Gatecoin
  3. buy ether

Use this link:

https://gatecoin.com/register?referralCode=OVWBNZ

Summary
ETHUSD $ 7.61 sets new high. Half a billion USD$ market cap exceeded.