The price of Ethereum (ETH) reached $483 USD for the first time on Friday. Many were once again reminded of the endless potential of ETH as many new technologies and startups are building their applications on this ecosystem. Currently, it is my preferred cryptocurrency when transferring value between exchanges. Not only are the transactions quicker but more inexpensive. There is nothing more frustrating than waiting for a transfer to be complete for more than 10 minutes, sometimes even 1 hour.
Look at the initial coin offerings (ICO’s) that have basically exploded this summer. Most if not all used ETH over BTC to issue tokens due to it’s simplicity. However, that has not come without significant backlash. There has been some high level ICO that have ended in scams which have ultimately contributed in holding the price back. Overall, I think as institutional money starts to pour back in after a lull in general cryptocurrency investment, you will see Ether increase over $500 in value.