Ethereum rose up today, again, by around $10, now hanging out at $396 in a typical fashion as if to say no further $10 up movement until tomorrow because slow and steady.
The currency has “slowly” increased by $100 in about 10 days, rising just $10 or $20 a day, then not really moving much, until the next day. Making a straight line, but “slowly.”
For this space anyway. Since we’re used to $100 movements in seconds, not days. So even while it’s going up, some are getting bored. While others seemingly think they are facing a big problem in deciding which one will go up faster or higher now that they’ve all turned green.
This slow up movement is sort of rare. Bitcoin is slowly making all-time highs daily too, with the combined market cap slowly increasing in billions every day. While eth slowly rises by just around $10 and no more.
But Ethereum Classic seemingly doesn’t have much care for all this slowly business. Making a more familiar straight up jump today from around $15 to $20, as if to remind everyone they’re still around.
We can’t see any obvious reason for their rise except that they were stuck at around $16 for what feels like forever, so presumably it was about time they joined the rest in the summer boom.
A boom that has seen all the top five digital currencies turn green, with litecoin making most of the gains out of them, rising another 16% today.
It’s not clear why litecoin keeps rising either. There is something to do with segwit’s activation in bitcoin which might allow the two to be easily interchangeable, but that would apply to all, or many, digital currencies rather than just ltc.
So perhaps it is more the case the big two, eth and btc, are now more established, moving “slowly” like grandmas’ stock market. While the copykids play fast and loose.
Welcome to the summer of 2017, where the crypto-boom is underway. But be careful and keep your head because things do turn. Until then, enjoy the party in the summer sunshine.