Ethereum Price Jumps 6% as Institutional Money Tingles Bitcoin Recovery

In the past 24 hours, the price of ether, the native crypto asset of the Ethereum blockchain protocol, has increased by five percent against the U.S. dollar.
The valuation of the crypto market has remained relatively stable in the past seven days, hovering at around $320 billion.

According to Zerohedge, JPMorgan has said that the emergence of a new bond asset class denominated in crypto assets like bitcoin has become a possibility following the approval of two European companies.

Bitcoin’s large year-to-date gain, which is estimated to be at around 210 percent even after its 30 percent plunge from its yearly high at $14,000, has primarily been attributed to the consistent increase in the inflow of institutional capital throughout 2018 and the past six months.

Reference: https://www.ccn.com/crypto/ethereum-price-jumps-institutional-money-bitcoin-recovery/2019/07/08/

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Author: Neo Anderson

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