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Ethereum Market Cap Breaks Above $1 Bln Mark

Digital Currencies Ranking According to Market Cap (Source: Coinmarketcap.com)

Amid the bitcoin blocksize debate, Ethereum has been consistently breaking records and making headlines. It has reached a new milestone – Ethereum’s market cap has surpassed the $1 billion mark for the first time. It stands at $1,039,572,941, at the time of writing, according to Coinmarketcap.com.

“Ethereum just hit $1b market cap. It is the second blockchain asset to ever accomplish this, alongside Bitcoin”, tweeted Eric Voorhees, CEO of ShapeShift.io.

Since January, Ethereum gave a tough fight to Ripple and ultimately beat it to re-claim the second spot in February.

The price of Ether (ETH), Ethereum’s unit of account, has also been going up. After hovering at below $1 dollar levels for quite some time, the price seems to have founded upward momentum and currently trades at 13.37 levels, at the time of writing.

Moreover, the number of Ethereum nodes has been growing by leaps and bounds. According to statistics obtained by Ethernodes.org, total ether nodes stand at 6774 (at the time of writing), as compared to 1679 nodes in January.

While the journey of Ethereum towards taking the top slot seems to be quite long at the moment, it is headed in that direction. Bitcoin still owns the throne with a market cap of over $6 billion.

“Ethereum can be viewed as a “world computer”: a place where anyone can upload and run programs that are guaranteed to be executed exactly as written on a highly robust and decentralized consensus network consisting of thousands of computers around the world”, said Vitalik Buterin, founder of Ethereum. “Ethereum aims to take the promise of decentralization, openness and security that is at the core of blockchain technology and bring it to almost anything that can be computed.”

Recently, in a move to further boost Ethereum’s reach, the developers announced the first Ethereum ATM – a modified version of the Lamassu Bitcoin ATM that now supports both currencies – BTC and ETH. The ATM is located in San Mateo, California.

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