Ethereum Price Watch: Currency Rises by $19


At press time, the number one competitor to bitcoin and the second-largest cryptocurrency in the world has jumped in price by nearly $20, and is now trading for $490. We are just ten dollars shy of $500, and many analysts are talking about when – not if – it will happen.

ETHUSD: EthUsd Long time buy

One of the latest strings of Ethereum news comes by way of Vyper, the new ETH language. Now in beta phase, the language is an upgraded version of Serpent, and provides developers with an alternative to Solidity. Many enthusiasts have been reviewing the application on social media, and are calling it an “improvement.”

Vyper complies down to the bytecode of Ethereum Virtual Machine (EVM). The language is slated to create smart contracts that are not only easier to understand, but will deliver greater transparency and fewer attack points. Vyper has also eliminated function overloading, class inheritance and operator overloading, as they are no longer necessary to create a Turing-complete language, and the application strives for simplicity.

In addition, Ethereum Classic continues to garner solid popularity and attention since it was first added to Coinbase’s trading platform. The currency is now trading for over $18 a pop (nearly four percent higher than where it stood yesterday), and has a market cap exceeding $1.8 billion. Its daily trading volume also exceeds $418 million. Over the last week, Ethereum Classic has been trading for 17 percent against the U.S. dollar.

Crypto Compare explains:

“Ethereum Classic is an attempt to keep the Ethereum blockchain unaltered by the part of the community that opposed the hard fork and the return of the DAO funds. It started trading on Poloniex, and is getting more and more traction. The Ethereum Classic mission statement is, ‘We believe in decentralized, censorship-resistant and permission-less blockchains. We believe in the original vision of Ethereum as a world computer you can’t shut down, running irreversible smart contracts. We believe in strong separation of concerns, where system forks are only possible to correct actual platform bugs, not to bail out failed contracts and special interests.’”

Spiking gas prices this summer have affected Ethereum in the long run. Transactions costs are running high, and both miners and users are feeling pain. The currency’s co-founder Vitalik Buterin recently offered a solution via his Twitter page, announcing:

“One proposal for enhancing user-friendliness and stability of gas price markets: not depending on Sharding, Casper or abstraction. If well looked at and individuals agree it is an important improvement, it could be implemented as a change to main net.”

Many users feel this is the most probable solution, as it could ultimately lead to Ethereum’s price growing even further.

Ethereum Charts by TradingView

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