Ethereum Price Hits $40, Darling Of Altcoin Market Up Almost 50 Percent

Ethereum price (ETH) has soared past $40 in the last 24 hours as the altcoin market continues to attract frenetic activity.

The biggest altcoin by market cap shot up by almost 50 percent since Wednesday, with recent development announcements and Bitcoin’s precarious network state among the reasons being given for its success.

$ETH soaring... rallying on Bitcoin FUD and Ethereum alliance FOMO pic.twitter.com/SqyosklSSs — Tuur Demeester (@TuurDemeester) March 16, 2017

Ethereum price is now almost twice of the all-time high it set in 2016 prior to the collapse of The DAO.

China discrepancy

Markets are struggling to keep up with the pace, with Chinese resource cnLedger noting the discrepancy between domestic and international exchanges.

Seems China and the west have different opinions on #ethereum price? pic.twitter.com/ZDh7GW6bWI — cnLedger (@cnLedger) March 16, 2017

Such is the growth of many altcoins in the top ten that community sentiment is slowly turning to one of uncertainty.

Popular commentator Chris Burniske tweeted late Wednesday that the “nagging question” for him and other investors was the issue of whether “the sky is about to fall on our heads.”

Doesn’t matter if short or long. ? or ?. #Bitcoin, #Ethereum, #Dash or #Zcash. This nagging question is in the back of your mind. pic.twitter.com/hZIX2DipHS — Chris Burniske (@ARKblockchain) March 16, 2017

For some, however, the party may already be over. Dash, the altcoin whose growth appeared to kickstart mimicry from other assets, came down from yesterday’s $100+ peak to currently settle at $92.

Developers had admitted they were unprepared for such a price rise, having to completely rearrange their roadmap for distribution of funds.