DAO Success Pushes Ethereum Back Above $1 Billion Market Cap

The overall market capitalization of all ETH coins on the Ethereum Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term network is once again above $1 billion. The apparent success of the DAO crowd-funding drive is the most likely source for the tail winds pushing ETH/USD higher.

The price of ether has jumped more than 36% in the past week alone reaching just above $13 today, which is about $4 more since the DAO crowdsale opened - and it still has nine more days to go. The last time Ethereum was worth this much was back in March, which does not sound so long unless you remember it has been trading for less than a year.

Only on Sunday we saw that the DAO has shot past the expected $100 million in funding, and today it is already at over $140 million. This massive success has created tremendous positive media buzz, reaching the Financial Times, CNBC, Bloomberg and more, drawing in more investors both from within and without the Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term sphere.

As the DAO is operated on the Ethereum blockchain and only accepts ETH as investment, all the new people that came on board needed to buy ethers to participate pushing the price upwards. This is evident from the fact that the trading volume of ETH skyrocketed to over $46 million in the last 24 hours, which is 65% of the trading volume of bitcoin for the same period. As a result the DAO now holds 11 million ETH out of the 80 million in existence which is a whopping 13.75% of the total circulation.