Looks like it’s greener pastures for crypto currencies as the price of ETH is surging alongside Bitcoin, raising the industry market cap.
Ether (ETH)—the world’s second largest cryptocurrency by market cap—is now trading for roughly $142—more than $20 higher than where it stood yesterday—and is up by more than 20%.
Ethereum is roughly $36 higher than its 16 March low of $106—the lowest it had been in over a year.
Bitcoin, which is currently trading for over $6,400, saw a jump following news that US President Donald Trump had signed a bill granting Americans access to free coronavirus testing and paid emergency leave.
However, the Ethereum network has also seen its user base and potential grow over the past month, a reminder that while its price may be on the low side, its blockchain remains viable. Among the most recent Ethereum developments is the Enjin Multiverse Program, which makes Ethereum-based assets and tokens available for use across multiple games.
In addition, the coronavirus isn’t stopping production on Ethereum 2.0, which will theoretically make the network more scalable. Vitalik Buterin, Ethereum’s creator, believes the upgraded network can be superior to Bitcoin in terms of its smart contract capabilities.