Why Ethereum Jumped More Than 4% Today
The Ethereum (CRYPTO: ETH) cryptocurrency is having a great day today. The second-largest name in crypto (and leading smart contracts platform) is up by 4.3% in 24 hours as of 1:30 p.m. ET. The move is part of a broad uptrend in the crypto market, but Ethereum also brought a couple of unique catalysts to the party.
Image source: Getty Images.
First, I must note that Bitcoin just reached a new all-time high, hovering around the $125,500 mark. Bitcoin often sets the general mood of the cryptocurrency market, and this is no exception. The ongoing government shutdown appears to fuel the Bitcoin rally, along with widespread concern over soaring global debt balances. Many investors flock to safer investments in times like these and Bitcoin is starting to look like one of those. I know, times are changing.
Source Fool.com
