It’s not just bitcoin. The world’s 2nd best-performing cryptocurrency is also at an all-time high.
When ethereum reached the US$380 mark early today (Php 19,237), it showed no signs of slowing down. Fairly interesting, because the coin stayed within the US$300 mark for so long this month.
As of press time, ethereum sits at US$488 (Php 24,705) and poised to increase much more.
Things are going on well with ethereum’s development as well. We noted how bitcoin transactions have congested its network recently. On the other hand, various improvements to ethereum allowed it now to handle more transactions than ever. Right now, the ethereum blockchain can process more transactions than bitcoin. Recently, the “Byzantium” fork allowed it to increase transactions to 550,000 per day.
The analysts over at ETHNews suggest that for this week, we will likely see ethereum to find its place within the US$500 mark (Php 25,312).
While bitcoin’s main application is to provide an electronic cash system on the blockchain, ethereum enables everyone to run their own decentralized applications on the ethereum blockchain.
Buying ethereum in the Philippines is not as straightforward as buying bitcoin. You can read our coverage of the process in our article: How to buy ethereum in the Philippines. Recent developments though may change that, as SCI Ventures, the company behind buybitcoin.ph wants to integrate ethereum in the BuyBitcoin.ph platform. (Read: Vote for Ethereum, Bitcoin Cash, or Ripple as the Next Digital Coin to be Added on BuyBitcoin.ph).
- Ways to buy ethereum in the Philippines
- BSP’s position on cryptocurrency in the Philippines
- The many ways to buy bitcoin in the Philippines
Notes and Disclaimer:
- If you like what you read here, please consider subscribing to our newsletter! Follow Bitpinas at Telegram.
- For press release, sponsored content, and other advertising options, click here.
- Invest in bitcoins (or in any altcoins) only the amount you can afford to lose!
- Don’t put all your eggs in one basket. Spread your bitcoin and cryptocurrency investment.
- Before investing in any cryptocurrency, check the people behind it, its mission, and other details to ensure that they are worth investing for. Don’t invest in something you don’t know.
- This article is for informational purposes only and does not constitute an investment advice. Your actions are solely your own responsibility. There is no substitute for doing your own research. This website is not responsible for any losses you may incur, nor will it claim attribution for your gains.