Ethereum Price Watch: Currency Makes Impressive Recovery, Stabilizes Around the $220 Mark

After experiencing a barrage of bearish pressure over the past few days, Ether has once again garnered fresh market support and crossed the $215 threshold. As can be observed from the chart below, the premier digital asset started its upward ascent early today morning, with the price of a single ETH token scaling all the way up to the $240 mark before falling once again. At press time, Ethereum is trading at $218.07— a price point that is 10% higher than the currency’s value just under 24 hours ago.

Bitcoin, the world’s largest cryptocurrency by total market capitalization too has had a decent financial run over past 24 hours, with the asset once again crossing the $6,600 barrier within the space of a few hours. As a result of its latest 5% market gain, Bitcoin is now trading at $6,625 (at press time).

Ethereum’s Constantinople Hard Fork is Facing ‘Consensus Issues’

As reported by NullTX earlier this week, the testing of Ethereum’s upcoming hardfork, “Constantinople”, has encountered some consensus’ related issues which have deemed the testnet to become “un-usable.”

In addition to all this, a plethora of other devs have also come forth and said that block 4,230,000 has caused a “consensus issue on Ropsten,” thus leading Afri Schoedon, one of ETH’s core developers, to tweet out the following message:

“No Constantinople in 2018, we have to investigate”

Echoing Schoedeon’s sentiments on the matter, many other Ethereum programmers have also said that it would be tough to deploy Constantinople this year if such issues persist on Ropsten.

For those unaware of this entire situation, Ethereum was all set to undergo another hard fork (Constantinople) a few days back– with the latest update designed to increase the overall efficiency of the Ethereum network.

ETH, BTC, XRP ATM’s Launch in India Despite RBI Ban

In another piece of highly welcome news for the Indian digital asset community, Unocoin, an Indian crypto venture has successfully launched its first BTC, ETH, XRP, LTC, BCH teller machine (ATM) in the city of Bangalore.

As a result of these machines being installed within the rapidly-growing SE Asian nation, a large number of potential investors will now be able to procure different crypto assets in a completely hassle-free manner. In relation to the matter, Sathvik Vishwanath, the CEO of Unocoin said that he envisions opening at least “30 such ATM kiosks” within India’s top 3 metros (namely Bangalore, Mumbai and New Delhi).

He then went on to say:

“These ATMs help people to cash in and cash out which was not possible before due to RBI restriction on banks to not provide bank accounts. The gap is now completely filled by these ATMs except that physical access is required to deposit and withdraw money.”

Final Take

With the altcoin market still recovering from the sudden drop that took place a few days back, it now remains to be seen what the future holds for this nascent domain. At press time, the overall market cap of the altcoin sector has once again climbed up to a respectable $211 Billion (which is $11 Bln more than yesterday’s total cap).

The post Ethereum Price Watch: Currency Makes Impressive Recovery, Stabilizes Around the $220 Mark appeared first on NullTX.

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