The primary native cryptocurrency of ethereum ether has increased substantially in the cryptocurrency exchange market. In the past 48 hours, the price of the commodity has surged up to 8 percent. Due to such milestones, big money may come to the ethereum market soon with billions of dollars to invest.
The Billionaire hedge fund investor Mike Novogratz said in an interview that the primary native cryptocurrency of ethereum is on a path to hit an all-time high record, which would represent a lot of good news for the investors in the market. Innovative developments are the key focus now by ethereum team, which would help improve the market substantially.
The South Korean ICO exchange market especially Ethereum has started to recover after a nationwide ban on domestic initial coin offering in October. After the ban, price and demand of ether and ethereum went down for a brief period.
After these dramatic changes in the ethereum market, big money has taken an interest in the cryptocurrency market. Big money represents the billions of dollars of institutional money that are waiting to be invested in the digital currency. Coinbase CEO Brian Armstrong revealed that about $10 billion of institutional money is waiting to be invested in the cryptocurrency. In another report Man group, the $95 billion hedge fund, is also planning to invest in cryptocurrency market. If these type of funding start coming into the cryptocurrency market, the money shift will evolve the whole ICO market in the upcoming weeks. Ether would benefit from such institutional investors, as it is the second largest cryptocurrency in the market, which would ensure big money investing in it.
Domain industry has been taken over by cryptocurrency and today the domain name Ethereum.com went up for sale at a huge price of 10 million USD. If the domain is sold at this price it would cast a shadow over any other domain sales this year. It may be the most expensive domain name sold in years to come.
Ethereum development startup ConsenSys announced that they are expanding to London. This new base would be the hub of the company, which would be situated in the capital of UK. This would be the latest office of the company, which has its headquarters in Brooklyn. This new establishment would help the investors realize the commitment of the company to servicing and investing in European. They have hired Ed Budd to join ConsenSys once it starts working on full scale. Budd is financed services veteran with so much to teach everyone around him. He has worked for Deutsch Bank as a chief digital officer of global transaction banking.