Ethereum price surpassed the $1000 mark for the first time finally giving investors and traders a whole lot of returns in a matter of just months. With this the crypto markets are also on a high with total market cap said to have crossed $770 billion.
Ethereum price made an impressive advance on Thursday alongside other cryptocurrencies like Ripple, TRON, NEM and Stellar. Despite increase in ethereum price, Ripple continued to retain its second spot as the largest cryptocurrency.
Ethereum is currently the third most valuable cryptocurrency and it was pushed to this position by Ripple. Ethereum rose by 11 percent bringing the ethereum price to a present value of $937 on Bitfinex. Thanks to Korean premiums, the global ethereum price rose to an all-time high of $1,045 as ETH briefly became the third cryptocurrency to achieve a market cap of $100 billion.
As impressive as this rally was, however, ethereum actually lost ground against second-ranked ripple, which exploded by another 33 percent to raise its price to $3.16 on Bittrex and $3.63 overall. Ripple now has a market cap of $140.6 billion, which is 56 percent as large as that of bitcoin.