Ethereum, leaps by 10% despite worries about bitcoin currencies

Digital Currency Ethereum was up in the session to near two-month high despite uncertainties about where Bitcoin would stand in the future.

Ethereum traded by 10 percent higher and almost reaching the $330 on Monday afternoon, after earlier rising by 15 percent to $347.05, which is its highest since June 23, according to CoinMarketCap. At its session high, the site’s data showed Ethereum gained at 70 percent for the month and more than 4,00 percent for the year.

Bitcoin traded more than 1 percent lower near $4,055.88 according CoinDesk, which is off the record high of $4,522.13 hit last Thursday. The decline in price came as the digital currency traders have increasingly focused on the possibility that an upgrade proposal for Bitcoin called SegWit2x to would split the said digital currency once more in November, Just a few months after its first split in August.

Bitcoin Cash traded 15 percent lower which is near $603, a huge drop of more than $450 dollar compared Saturday’s record high of $1,091.97. Although the bitcoin missed it held gains by nearly 200% from a low of $210 hit on the day of the split in August 1.

Other factors that help push the Ethereum to better positions include the steady demand from south Korean investors and the reports that London-based online trading company IG also launched supports for trading Ethereum on Monday.

Trade in South Korean won accounted for about 30 percent of trading in Ethereum, according to Crypto Compare.


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