It’s certainly an exciting time for Ethereum, as in the span of just the the first few months of 2016 its market price has went from $0.94 (0.002182 BTC) on Jan 1st, to now over $13 per Ether, giving it a new market cap of over 1 Billion USD. The recent rise has many comparing it to the early days of BTC, with its almost continual new ATH (All-Time-Highs) being set regularly before the bubble burst in November of 2013.
At the time of this writing CoinMarketCap.com is reporting Ethereum trading at $13.19 with a corresponding market cap of $ 1,024,953,991. The past 24 hours of trading volume shows $36,773,400 in activity.
In related news, perhaps even giving a boost to the recent Ethereum price spike, Bitfinex has announced that they will be adding Ether to their USD and BTC trading pairs on Monday, March 14, 2106. This also corresponds to the date that the Homestead release is expected to go-live, with the expected mining of block 1,150,000 approximately around mid-day on “PI day”.
Bitfinex is pleased to announce upcoming support for trading Ether. While we are generally wary of adding new digital assets to the platform and believe that Ether’s future as a store of value is quite uncertain, it is, nonetheless, hard to ignore the Ether trading volumes at other exchanges and the many requests we have received from our customers to add Ether trading pairs. As such, we will begin trading Ether against both US dollar and bitcoin on Monday, March 14th at noon UTC. Starting immediately, however, customers will be able to deposit Ether into their exchange wallets.
Up until this point, the Poloniex and Kraken exchanges have seen the lion’s share of Ether trading volumes. Poloniex does not offer trading in USD, so users needed to first convert to BTC in order to trade Ethereum, perhaps limiting its appeal. While Kraken did offer USD and EUR as options, it fiat volumes were just a fraction of the ETH/BTC pair. With a major exchange such as Bitfinex adding both ETH/BTC and ETH/USD trading pairs, it will be interesting to see if Ethereum experiences an influx of new money.
While trading officially begins on Monday, Bitfinex is already allowing Ether deposits into the Exchange.