Ether Prices Surge Above $360 to Hit Two-Month High

Rachel Rose O'Leary
Aug 29, 2017 at 12:50 UTC
Updated Aug 29, 2017 at 14:48 UTC

The price of ethereum’s ether token has risen sharply over the past 24 hours, reaching levels not seen for over two months.

Climbing from around $340 yesterday morning, ether peaked at almost $365 at 10:34 UTC today and has since dropped slightly, according to data from CoinMarketCap.

That figure is around $46 short of the token’s all-time high of $411 set on June 13.

Notably, the price change seems at least in part driven by enthusiastic trading in South Korea.

CoinMarketCap data reveals that, of the top three exchanges by ether volume, two are Korean – Bithumb and Coinone – and have seen 14.74 and 6.76 percent of trading, respectively. China-based exchange OKCoin is in the number two slot, with 9.47 percent.

This mirrors trading patterns for other cryptocurrencies in recent days, with Ripple’s XRP, bitcoin cash and monero all seeing price gains amid growing popularity in South Korea.

Though generally moving sideways, bitcoin prices have also risen over the last 24 hours and were $4,447 at press time, according to CoinDesk’s Bitcoin Price Index.

Ethereum and dollars image via Shutterstock