Ethereum Surges 20% As Altcoin Optimism Spills Over

Ethereum has surpassed all-time highs to currency sit at a record $26.71 per coin.

At press time Monday, the asset had undergone a 20 percent surge in 24 hours according to data from CoinMarketCap and CoinGecko. Longer term, Ethereum has more than doubled while sitting at around $12 until the end of February.

ETH chart

The rises come on the back of the launch of the Enterprise Ethereum Alliance, a well-received project focussing on Blockchain propagation and innovation for international business.

After the rejection of the Bitcoin ETF by the US Securities and Exchange Commission, the top ten altcoins experienced a slight drop followed by a sweeping comeback.

Dash led the rebound, its price surpassing previous highs to trade at over $70 per token and optimism seemingly spilling over.

Bucking the trend last week, however, was leading Ethereum developer Vlad Zamfir, who wrote that Ethereum “euphoria” could soon end due to the prospect of another hard fork.

“I am not feeling any euphoria anymore. I am mostly filled with concern about how everything could go horribly wrong,” he warned.

Zamfir has been working on Casper, Ethereum’s method it intends to use to replace mining altogether, for several years.