Storj Cryptocurrency Spikes to 4-Month High After Ethereum Migration Announced


Atlanta-based Storj Labs Inc., developers of the blockchain-based cloud storage network Storj, announced today it will be switching its digital currency (SJCX) over to the Ethereum token framework.

Since launching, Storj Labs has used the Counterparty smart token platform, which runs on top of the Bitcoin blockchain.

But rising Bitcoin transaction fees and delays, coupled with the lack of development and updates of the Counterparty platform, have prompted the Storj development team to migrate to the more popular Ethereum ecosystem, which Storj Labs CEO Sean Wilkinson called a “more active and robust development community.”

In his blog post, Wilkinson explained that the rising transaction fees of the Bitcoin network have created an untenable situation for Storj cloud storage providers:
“For the February farmer payout we paid over $1,600 in transaction fees, or about 13% of total payouts. This is not sustainable or scalable.”
Storj Labs partnered with Counterparty last year to work on ultra-fast micropayments for SJCX, which would have been based on the upcoming Lightning Network being developed by Bitcoin Core developers.

However, Storj developers now believe that this path is “unlikely to be broadly useful” as the Counterparty platform has very little adoption, “The Counterparty ecosystem is small. Very few other organizations are using it at scale.,” said Wilkinson.

As a result of the mounting issues with the Counterparty platform, along with many requests from within the Storj community itself, the Storj Labs team made the decision to migrate its token to the Ethereum ERC20 token standard.

Ethereum’s token platform already supports the tokens of major projects like decentralized computing platform Golem (GNT), as well as REP, the token of the decentralized prediction market Augur.

Wilkinson said a roadmap will be laid out for the migration process, and existing SJCX holders will be allowed to swap their Counterparty-based tokens to Ethereum-based SJCX.

The news lifted the SJCX/BTC exchange rate to a 4-month high of 0.000238. At press time, one SJXC token costs about 0.000206 BTC:


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New Zealand Dollar Falls After RBNZ Head Says "Further Depreciation" Needed for Economic Growth to Continue


The Reserve Bank of New Zealand (RBNZ) refused to raise interest rates for the second time this year on Wednesday, citing “on-going surplus capacity in the global economy and extensive geo-political uncertainty.”

In today’s statement, RBNZ Governor Graeme Wheeler said monetary policy across the globe will remain accommodating, with the exception of the United States, where interest rates have begun to rise.

Governor Wheeler also mentioned the poor Q4 GDP figure for 2016, which came in at 0.4 percent, but he dismissed this print as a temporary occurrence, stating that the New Zealand economy is on solid footing with “strong population growth, and high levels of household spending and construction activity.”

More notably, the governor mentioned the falling New Zealand dollar, saying it needed to drop even further for the economy to “achieve more balanced growth.”

Wheeler’s call for a weaker NZD is consistent with RBNZ’s statement in February, in which the central bank said a low exchange rate is needed for the economy to continue growing.

The NZD/USD exchange rate was trending higher before RBNZ’s interest rate decision and statement - trading as high as 0.79732 on the day. However, the NZD began to lose ground against the USD after Governor Wheeler’s bearish comments:


It remains to be seen if Wheeler's comments will have any sustained, lasting negative impact on the NZD exchange rate, but RBNZ's calls for a weaker currency on February 8, 2017, caused the New Zealand dollar to depreciate by 6% over a 30-day period.

NZD flag image by Free Stock

U.S. Commercial Crude Oil Inventories Buildup Pushes Oil Price to 4-Month Low


The price of crude oil dropped to a 4-month low on Wednesday due to a larger-than-forecast U.S. commercial oil inventories for the week ending March 17th.

Today’s release by the Energy Information Administration (EIA) showed that commercial crude inventories in the United States had risen by 5 million barrels from the prior week:

“At 533.1 million barrels, U.S. crude oil inventories are at the upper limit of the average range for this time of year.,” said the report.

While today’s EIA report wasn’t as bad as the 8.2 million barrels increase that was reported on the 8th of March, which triggered the oil price crash, the release spooked some oil traders. Around 10:30 a.m. on Wednesday, crude oil futures briefly dropped to $47.01 - a price not seen since November 30, 2016.

But soon after the oil inventory numbers came out, crude oil futures rallied 92 cents to $47.93 by 11:30 a.m.:


Oil jack photo by Blake Thornberry

Golem's Cryptocurrency Rises to Record Highs After ShapeShift Integration


GNT, the token of the Golem decentralized computing network, became the 13th most valuable digital currency by market capitalization on March 20, 2017. Data from CoinMarketCap shows GNT’s market cap rising close to $50 million at the height of yesterday’s rally.

While there was no breaking news coming from Golem's 14-person development team, the price of GNT was pushed to an all-time high of $0.059 on Monday as Swiss-based digital currency exchange, ShapeShift, announced support for Golem’s token on Twitter:


On the Poloniex exchange, where a large portion of investors buy and sell Golem tokens, the GNT/BTC exchange rate hit a record high of 0.000059:


Golem’s token, along with majority of top alternative cryptocurrencies like Ethereum, have experienced tremendous growth since mid-March due to fears surrounding the Bitcoin scaling debacle, which could potentially split Bitcoin into two competing digital currencies.

Rising investor appetite for altcoins, coupled with ShapeShift’s decision to support GNT, has placed Golem’s token among other major altcoin projects like ZCash, MaidSafeCoin, Augur and NEM.

Odds of a Bitcoin Split Continue to Rise as 'Bitcoin Unlimited' Mining Capacity Expands


Bitcoin’s value has taken a direct hit as a result of the rising animosity between the Bitcoin Core and Bitcoin Unlimited supporters & developers. The debate, drama and brinkmanship surrounding Bitcoin’s scaling debate pushed the BTC/USD exchange rate down by 25% last week.

On March 15th, the digital currency was hovering around $1257, but by March 18th, as the community began to seriously contemplate the odds of a split in the network, with plenty of colorful commentary on Twitter and Reddit, Bitcoin’s price had fallen under $950.

Although the exchange rate has risen back above the $1000 mark over the last two days, the threat of a split has not gone away. In fact, the hashrate (mining power) of miners who are in support of Bitcoin Unlimited has continued to rise.

As of today, Bitcoin Unlimited’s estimated hashrate reached a record high of 1.428 Th/s - about 40% of all mining power on the Bitcoin network:


The amount of blocks being mined by Bitcoin Unlimited miners has also continued to increase at a steady pace. According to data by NodeCounter, Bitcoin Unlimited miners have found 36.8% of all blocks, while last week, that figure was close to 33%:


BU’s rising dominance on the Bitcoin network, largely driven by Chinese mining pool Antpool, which began signalling 100% support for BU last Monday, has unnerved many Bitcoin Core supporters/miners.

Many on the side of Bitcoin Core perceive the cozy partnership between Antpool and the Bitcoin Unlimited group as an existential threat to the core principle of decentralization the digital currency was founded upon by its creator, Satoshi Nakamoto.

And the disagreement between the two camps has become so ferocious that one of the more prominent Bitcoin Core developers, Peter Todd, floated the idea that an algorithm change may be necessary to protect Bitcoin Core’s network in the event Bitcoin Unlimited splits-off by gaining a large share of the mining power.


Bitcoin Unlimited needs to amass more than 70% of the mining power before a split is even considered feasible. However, if the current rate of growth of mining power in support of the Bitcoin Unlimited proposal continues unabated, the likelihood of a split in Bitcoin’s blockchain network will increase dramatically over the coming weeks and months.

Divided sign photo by Johnny Silvercloud with alteration by Razor-Forex.

Australian Dollar Hits 2017 Highs vs. USD Ahead of RBA's Minutes of the Monetary Policy Meeting


Australia’s currency rallied to its highest rate against the U.S. dollar on Monday. The AUD/USD currency pair began trading on Sunday evening at around 0.7704, however, by 3:15 a.m. EST on Monday, the pair was trading as high as 0.77479.

Monday’s rally also pushed the Australian dollar to a 4-month high, trading only 0.40% away from taking out the US election highs of 0.77782, printed on Nov. 8, 2016. The rally in the AUD/USD Forex pair was mainly driven by weakness in the U.S. Dollar Index, which fell to its lowest level in March - 100.02 - on Monday.


However, it remains to be seen if the Aussie dollar can hold onto today’s gains going into the Asian Forex session, when the Australian central bank releases its Minutes of the Monetary Policy Meeting of the Reserve Bank Board for the month of March, scheduled for 8:30 p.m. EST.

Tonight’s release will shed some light on RBA’s views on the global and domestic economic landscapes, as well as the the bank’s stance on monetary policy, which may have changed considerably after last week’s interest rate hike by the Federal Reserve in the United States.

AUD banknotes photo by Whit Andrews

More than 600 'Bitcoin Core' Nodes Come Online This Week As Bitcoin Scaling War Ramps Up


As the rhetoric and threats of a contentious hardfork (a split in the Bitcoin network) ramped up within the Bitcoin community in the days following the discovery of a critical bug in the Bitcoin Unlimited (BU) client, which temporarily brought down more than 400 BU nodes, the number of nodes supporting Bitcoin Core (BC) has climbed rapidly over the last few days.

The bitter scaling debate has prompted many pro-BC members of the community to fire up Full Nodes, which perform the tasks of verifying transactions and blocks on the Bitcoin network.

But these special servers also consume excessive amounts of upload bandwidth due to the ever-increasing size of Bitcoin's blockchain, and node operators open themselves up to DDoS and hacking attacks.

However, the inherent dangers of running a Full Bitcoin Node are being brushed aside by an increasing number of enthusiasts as the likelihood of a Bitcoin split ratcheted up to new highs in mid-March.

Since the start of this week, approximately 660 new BC nodes have come online, bringing the total amount of Bitcoin Core nodes to 5947 (83.37% of all nodes) on Friday, according to data compiled by Coin.dance.

The last time the Bitcoin network had so many BC nodes was on the 14th of August, 2015.


Bitcoin Unlimited node counts, which dipped from 764 to 410 on Tuesday, have also climbed to an all-time high of 813 on Friday.


Server photo by Bob Mical

BoE Votes to Keep Rates at 0.25 Percent, British Pound Climbs to 14-Day High Against USD


Today’s decision by the Bank of England’s Monetary Policy Committee (MPC) to keep interest rates unchanged at 0.25 percent, pushed the British pound to a 14-day high vs. the U.S. dollar. The MPC also reaffirmed its commitment to keep government bond purchasing program at £435 billion.

On the ongoing challenges regarding the Brexit situation, the BoE said monetary policy will be crafted and adjusted according to developments in “demand, potential supply, the exchange rate, and therefore inflation.“

However, UK’s central bank also mentioned in its statement that monetary policy would not dampen the economic fallout from Brexit:
“Monetary policy cannot prevent either the real adjustment that is necessary as the UK moves towards its new international trading arrangements or the weaker real income growth that is likely to accompany it over the next few years.”
While majority of MPC members voted to keep interest rate unchanged, MPC External Member Kristin Forbes, who said last month that an interest-rate-hike would not be harmful to the UK economy, was the only member to vote against keeping rates unchanged at 0.25 percent.

BoE’s MPC vote to keep rates low, boosted the pound to a 14-day high of 1.23771 by 1:15 p.m. EST on Thursday. Since Tuesday of this week, when the pound was trading at 2-month lows against the USD, the GBP/USD rate has climbed 2.18%:


The climb of the GBP/USD Forex pair this week was mainly driven by weakness in the dollar, which tumbled 1.15 percent on Wednesday after the U.S. Federal Reserve decided to raise interest rates to 1 percent.

BoE building photo by Captain Roger Fenton

New Zealand Dollar Has Wild Day as Federal Reserve Hikes Rates & Q4 NZD GDP Figure Disappoints


The New Zealand dollar pared back some of Wednesday’s gains after lower-than-forecast GDP readingfor the last quarter of 2016 was announced by Statistics New Zealand (SNZ).

The agency’s release said New Zealand's economy grew only 0.4 percent in the fourth quarter of last year, which was 0.3 percent lower than analysts' estimates of 0.7 percent. The gains were mainly in the services sector, said SNZ:
“Business services was up 1.7 percent, due to computer system design and related services and advertising, market research and management services.”
In the last quarter of 2016, manufacturing posted declines of 1.6 percent, while exports dropped by 3.8 percent.

On Wednesday, during the New York Forex session, the NZD/USD rate was pushed higher by approximately 1.8 percent to a 12-day high of 0.70495, when the U.S. Federal Reserve decided to raise interest rates to 1%, weakening the dollar.

However, the disappointing New Zealand GDP figure which was released at 5:45 p.m. EST, sent the NZD/USD rate lower by 0.52 percent to 0.70:


NZD banknotes photo by Karl Baron

Mexican Peso Rallies to New Highs for 2017 Following U.S. Interest Rate Increase


The Mexican peso rallied to its highest level in 2017 on Wednesday as the U.S. dollar tumbled in response to FOMC’s decision to increase interest rates to 1%.

The peso was already gaining ground against the dollar on Wednesday after Peter Navarro, who leads the White House National Trade Council, told Bloomberg that the United States is seeking to form an alliance with Mexico and Canada, to keep foreign auto parts manufacturers out of the North American market.

The proposed partnership is said to be just one component of a complex NAFTA-renegotiation-initiative by the Trump administration, which is set to begin in the second half of 2017.

Navarro’s comment pushed the USD/MXN exchange rate lower on the day, however, the FOMC interest rate decision at 2:00 p.m. weakened the dollar significantly, pushing the USD/MXN rate even lower towards the end of the trading session.

By 3:45 p.m. EST, the peso hit its highest rate for 2017: 19.19499. At the close of the NY Forex session, Mexico’s currency had gained 2.26% on the day, closing at 19.22235 to the USD:


At press time, the USD/MXN rate is about 5.5% away from returning to pre-Trump levels, when 18.16 pesos were equivalent to 1.00 USD:


Mexican peso banknote photo by Richard Cawood

Steemit Lead Developer, Dan Larimer, Leaves as Steem Market Cap Declines to $18.8 Million


Daniel Larimer, the founder and lead developer behind the blockchain-based social media platform, Steemit, announced his resignation on Wednesday, “I will not be posting or voting any more. I wish you all the best.,” he said.

Larimer’s two-sentence post, which gave no explanation or reason for the departure, has thrown the Steemit community into turmoil.

And some disgruntled users have accused Dan Larimer of abandoning the project at a crucial time, “Did the same thing happen with Bitshares? Will the same thing happen with next project from Dan? Grand vision, big promises and quick exit after the money is pocketed. Dan, I'm sure you could do better. I wish you all the best, Dan.,” said one Steemian.

With Larimer’s abrupt departure, some Steemians have also begun to question the long-term viability of the entire platform:
“This could be the end of Steem. Without Dan Larimer who will lead Steem development and contribute to long term strategy?”
While Mr. Larimer did not provide specifics regarding his reasons for leaving, some of his replies to question posed by inquiring Steemians shed some light on the situation. When asked about a specific reason for leaving, Larimer said he was moving on to other projects:
“New opportunities to pursue my vision of free market solutions to secure life liberty and property.”
However, some of Larimer’s other replies hint at increasing tensions within Steemit’s management structure, “You wouldn't believe how often I post something I think is ok only to be told it reflects poorly on Steem.,” said Larimer.

“Steem is dominated by politics beyond my ability to control or fix. The code is in good hands, the team is more than capable of implementing any thing the community desires. Let's hope the community chooses wisely.,” he adds.

Ned Scott, CEO and Co-founder of Steemit, has not released a statement at press time, however, Mr. Scott said in one of his replies that an official statement will be released “as soon as possible.”

The resignation of Steemit’s lead developer comes at a time when the value of Steem tokens is trading near all-time lows.

While Steem tokens were going for $4.70 a piece on July 20, 2016, amid plenty of hype and a steady stream of news articles from news outlets across the globe, Steemit’s digital currency has continued to decline over the past nine months.

Today, the Steem/Bitcoin exchange rate is 0.00006160 ($0.076 per token) and the market capitalization of Steem is sitting at an all-time low of $18.8 million:

More Than 400 'Bitcoin Unlimited' Nodes Knocked Offline After Critical Bug Discovered


The number of Bitcoin nodes supporting the Bitcoin Unlimited (BU) scaling framework took a nosedive today after a new exploit was uncovered by Bitcoin Core developers.

According to Peter Todd, a cryptography consultant and contributor to the Bitcoin Core GitHub repo, the newly discovered bug in BU had been present for more than a year:



Several overlooked lines of code in the BU client would allow an attacker to craft a special request to the vulnerable BU client, which would then freeze the client and take it offline.

Since BU nodes only represented less than 13% of all nodes on the Bitcoin network prior to today’s crash, the bug did not endanger the Bitcoin network as a whole. The amount of BU nodes plunged after news of the bug spread within the community.

At press time, Coin.dance charts show that the number of BU nodes plunged on Tuesday under 320.


Bitcoin statistics portal, NodeCounter, which is pro-BU, shows that 305 BU nodes - 5.1% of all Bitcoin nodes - are online at the moment.


Today’s incident is set to ramp up hostilities even further between Bitcoin Core and Bitcoin Unlimited supporters, “If Bitcoin Unlimited was a predominant client, this is a vulnerability that would have left the entire network open to being crashed.,” said one Redditor on the /r/Bitcoin subreddit, which is largely pro-Bitcoin Core.

“Almost one year and no devs in BU noticed this ! Talk about lack of peer review and testing . This is why you cannot "fire" the most competent developers working on core and replace them with amateurs.,” said another Redditor.

The divide between the two camps also ratcheted up yesterday, when one of China’s largest Bitcoin mining pools, Antpool, announced full support for Bitcoin Unlimited. But despite the drama over the past two days, the price of Bitcoin has remained stable around $1250 - only $100 away from its all-time high at $1350.

Network cables photo by Lars P.


Rising Saudi Oil Production Drives Crude Oil Prices to 4-Month Lows


Crude oil futures dropped to 4-month lows on Tuesday, March 14, 2017. At 11:10 a.m. EST on Tuesday, the oil futures traded as low as $47.09 - the lowest price so far in 2017.

Oil prices dove lower on Tuesday after an OPEC monthly report revealed that Saudi Arabian oil production in February had risen back above 10 million barrels per day. Downside pressure on oil prices increased after Kuwaiti oil minister, Issam Almarzooq, said prices could go as low as $45 due to rising shale oil production, according to a Bloomberg report.


Almarzooq’s comments referred to the Drilling Productivity Report released yesterday by the U.S. Energy Information Administration (EIA), which estimates that U.S. shale output will rise by 109 thousand bpd to 4.962 million barrels per day in April of this year.

Volatility in the oil markets is set to spike again tomorrow, as market participants react to the the release EIA’s crude oil inventories report for the second week of March. The sharp decline in the price of oil this month was triggered on March 8th, when EIA’s inventory report showed a large buildup (8.2 million) of U.S. commercial crude oil inventories for the week ending March 3, 2017.

Since March 8 - including today’s plunge to $47.09 - crude oil futures have dropped by approximately $5.80 (-10.96%).


Oil Pump photo by Paul Lowry

Bitcoin Scaling War Intensifies as Antpool Backs 'Bitcoin Unlimited' - Investors Flee Into Alternative Cryptocurrencies, Ethereum Hits $30


The rejection of Winklevoss’ Bitcoin ETF on Friday by the SEC, caused some of the more well-capitalized altcoins like Ether and DASH to appreciate in value over the weekend.

However, the escalating tension surrounding the ongoing debate regarding the transaction capacity of Bitcoin’s blockchain network intensified further on Monday when BITMAIN co-founder, Jihan Wu, announced on Twitter that Antpool - one of the largest mining pools in the world, owned & operated by BITMAIN - will be directing all of its hashing power to mine Bitcoin Unlimited blocks.

Wu’s unexpected announcement had an even more noticeable impact on the altcoin market than the Bitcoin ETF rejection. The market capitalization of the entire altcoin market surged to a new record of $5 billion, according to figures by CoinMarketCap.

Ether, which hit a 6-month high last Friday against Bitcoin, rallied even higher on Monday to a 10-month high of 0.0253 on Poloniex, a U.S.-based cryptocurrency exchange. And on Bitfinex, the ETH/USD pair hit an all-time high of $30.60:


Other top alternative cryptocurrencies like Monero (XMR), Litecoin (LTC), MaidSafeCoin (MAID), Factom (FCT), Storj (SJCX) and Zcash (ZEC) appreciated by double-digit percentages on Monday.

The only exception was DASH, which declined more than 14% on Monday from a daily high of 0.06583 down to approximately 0.05644 by 1:30 p.m. EST.

Other less-known digital currencies also saw significant gains on Monday; GNT, the token of the Golem distributed computing network, spiked to more than 20%; REP, the token of the Augur prediction marketplace, which run on the Ethereum blockchain, spiked close to 18%; Namecoin, a cryptocurrency focusing on DNS decentralization and censorship resistance, which has been in a downtrend since 2015, spike more than 250% today.

After Wu’s Tweet, many Bitcoin evangelists, proponents and supporters, took to Twitter & Reddit to express their disapproval. Vinny Lingam, CEO of blockchain identity startup, CivicKey, said on Twitter:
“Danger on the horizon. If Bitcoin forks, all bets are off and we can kiss $3k BTC in 2017 goodbye…”
While some cryptocurrency investors have begun divesting some of their BTC holdings due to mounting risks of a split in Bitcoin’s network (also known as a hardfork), the price of Bitcoin remained quite stable on Monday, trading in a tight range between $1216 and $1247.

It should be noted that the risk of a hardfork in the Bitcoin blockchain is low at the present time, but the amount of nodes supporting Bitcoin Unlimited (BU) has been steadily growing over the past two months.

Data compiled by NodeCounter shows the amount of pro-BU nodes on the Bitcoin network climbed to a record high of 775 on Saturday, March 11:


NodeCounter charts also show that as of today, BU miners have mined more blocks than pro-Segwit miners on the network: 308 vs. 256 over the last 1000 blocks, respectively.

Bitcoin Unlimited and Bitcoin Classic miners currently account for 31.3% of the hashing power on the Bitcoin network (1000+ Ph/s on March 12, 2017, vs. 568 Ph/s on February 28, 2017):


Bitcoin Core supporters who disagree with the BU proposal and back the Segwit soft-fork upgrade path, currently have the majority of the nodes on the Bitcoin network.

Market Capitalization of All Alternative Cryptocurrencies Rises Above $4 Billion in March; Ethereum & DASH Rally to Record Highs


It used to be the case that when Bitcoin rallied, alternative cryptocurrencies declined in price. However, this dynamic seems to have changed somewhat since the start of this year - at least for some of the top altcoins.

As Bitcoin has continued to set new all-times highs in February and March, the market capitalization, as well as price of several major cryptocurrencies (Ethereum, Dash & Monero) has climbed in tandem.

Data from Coinmarketcap shows the combined market capitalization of all alternative digital currencies hit a new all-time high of $4.3 billion on Sunday, March 12, 2017, with Ethereum’s market cap making up close to 50% of that figure:


Ether (ETH), the token of the Ethereum blockchain, rose to a new record valuation of $2.07 billion today.

Although Bitcoin’s 24h volume reading of $232,732,829 represents 55.14% of global cryptocurrency turnover, Coinmarketcap data says that 19.46% of all cryptocurrency trading ($82,133,476) over the past 24h took place on various ETH pairs.

Privacy-centric digital currency, DASH, was trading at record highs of $80.00+ at 6:05 p.m. EST on Sunday, further solidifying its place as the 3rd most valuable cryptocurrency in the world. The market cap of DASH rose to a new all-time high of $562.37 million.

It’s also worth noting that the DASH/BTC pair on crypto-exchange Poloniex saw close to $32 million in turnover for the past 24h, while total daily DASH volume across all pairs came in at $46,884,646 - 11.11% of global cryptocurrency turnover.

Monero, the 4th largest digital currency by market cap, did not rise to new highs today, but its current market capitalization is only $21 million away from breaking its previous record of $257.12 million, recorded on January 5, 2017.

With a few exceptions - NEM, Zcash, GameCredits and MaidSafeCoin - majority of altcoins have lost ground against Bitcoin since the start of 2017.

Dollar crates photo by imgarcade.com

Ethereum Climbs to 6-month High vs. Bitcoin on Winklevoss ETF Rejection


March 10th, 2017, will go down in history as one of the most volatile days for the digital currency, Bitcoin, due to the Securities and Exchange Commission's decision to not list shares of the Winklevoss Bitcoin Trust for trading in the United States.

While SEC’s move to deny the Winklevoss Bitcoin ETF caused the price of the world’s most valuable digital currency to plunge 24% in a matter of minutes on Friday - ether, the token of the Ethereum blockchain, had one of its best days on record.

As the value of Bitcoin plunged from $1290 to $975, the ETH/BTC pair climbed to a 6-month high of 0.017997. The last time Ether traded this high was on October 25, 2016.

On Hong Kong-based Bitfinex, which has the highest-volume ETH/USD pair, Etereum's token was trading as high as $19.70 per coin on Friday afternoon:


Today’s monumental developments gave ETH a significant boost, however, the innovative digital asset has been in an uptrend since the start of this year.

Improving fundamentals, particularly the Enterprise Ethereum initiative, which was backed by major investment banks J.P. Morgan and Banco Santander, among many others, vaulted ETH to new 2017 highs back in February.