Crypto CoinsNews – January 05, 2018 – Ethereum’s price surged past $10,000 for the first time this year on Tuesday, as the cryptocurrency gained steam.
Ethereum’s market capitalization rose to $25.2 billion, up from $17.3 billion last week.
The cryptocurrency, which was launched in 2017, has been gaining steam for years and is now a popular way for startups to raise capital, according to CNBC.
The platform is backed by many of the biggest names in the crypto-currency industry including Blockchain.com and ConsenSys, which together have more than $20 billion in revenue.
Ethereum has also become a popular option for investors to trade cryptocurrencies in the past few weeks.
Bitcoin’s price has dropped significantly since its peak in late July, after surging nearly 200 percent.
ETH is up almost 7 percent on Monday to $10.07, according the CoinDesk Bitcoin Price Index.