Ether (ETH) – the native currency of Ethereum – shapes up for new all-time highs, according to ex-hedge fund manager, formerly of the investment firm Fortress Investment Group, Michael Novogratz.
According to billionaire investor Michael Novogratz, recent positive developments surrounding ethereum startups might be putting ETH on track to flirt with record territory.
“ETH looks poised for a move to new highs. Lots of good news on the horizon,” Novogratz said.
New York-based ethereum development startup ConsenSys is expanding to London and has recently hired the former chief digital officer for the global transaction bank (GTB) at Deutsche Bank, along with several former members of IBM’s blockchain team.
Moreover, Voise – a Swiss-based start-up that aims to eliminate middle parties in the global music streaming industry – has announced joining the Ethereum Enterprise Alliance, on Monday.
The world’s second largest cryptocurrency by market cap, ETH has appreciated an eye-watering 4469.75% year to date against the dollar, according to Investing.com data. At press time, ether is up 1.90% on the day, at $364.74.
The recent surge in price could be partially attributed to an increased demand. Ether’s 24-hour trading volume has recently surpassed $1 billion. The increase has allegedly been driven by the South Korean cryptocurrency exchange market, the leading ethereum market accounting for over 33 percent of the global ETH market share.
Image source: CNBC