$236: Ethereum’s Ether Token Hits New All-Time Price High

The price of ether, the token that powers the ethereum blockchain, reached an all-time high today, rising to what has become the latest in a string of record levels.

Ether’s price climbed to as much as $236.97 at roughly 12:15 UTC, increasing more than 35% in 24 hours, according to CoinMarketCap. At the time of report, the alternative asset protocol had fallen back very slightly, trading at $235.01.

The price boost comes at a time when ether is surging, climbing roughly 1,400% over the last three months amid the growing visibility of ethereum and a broader mainstream interest in cryptocurrencies.

Today, ether showed further signs of progress when Huobi, one of the largest bitcoin exchanges in China, started offering trading in the CNY/ETH pair. The major Chinese exchange spoke to ether’s potential, asserting that the cryptocurrency could surpass bitcoin in several areas in its official announcement.

While ether has been making progress toward greater adoption, its price has surged as cryptocurrencies in general have been drawing robust inflows, causing the total market cap of these assets to surpass $91bn earlier this month.

Amid this broader trend, ether has been differentiating itself from other cryptocurrencies, as its market cap recently surpassed 50% that of bitcoin’s, a historically high figure.

In contrast, ether’s market cap was less than 5% of the market cap of bitcoin at the start of the year.

Ladder image via Shutterstock

Source: Coindesk