{"id":40629,"title":"Ethereum Price Roars Past $700 as Crypto Market Value Rivals That of Facebook","publisher":"Share Talk","author":"sharetalk","published":"2018-04-25T16:27:33+00:00","modified":"2018-04-25T16:27:33+00:00","canonical_url":"https://www.share-talk.com/ethereum-price-roars-past-700-as-crypto-market-value-rivals-that-of-facebook/","markdown_url":"https://www.share-talk.com/ethereum-price-roars-past-700-as-crypto-market-value-rivals-that-of-facebook.md","json_url":"https://www.share-talk.com/ethereum-price-roars-past-700-as-crypto-market-value-rivals-that-of-facebook.json","category":"Fintech","categories":["Fintech"],"tags":["Bitcoin","crypto market","cryptocurrency","Ethereum","Facebook"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1","format":"news","language":"en-GB","content":" \n\nThe Ethereum price crossed a major milestone on Tuesday, surpassing the $700 mark for the first time in more than a month.\n\nThe rally was far from an isolated occurrence, as the [cryptocurrency market cap](http://ccn.com/marketcap) achieved an eight percent advance, adding nearly $33 billion to its rapidly expanding waistline. In the past week, the market has added almost $100 billion.\n\n[!\\[ethereum price\\](https://248qms3nhmvl15d4ne1i4pxl-wpengine.netdna-ssl.com/wp-content/uploads/2018/04/cryptocurrency-market-cap-april24-1024x361.jpg)](https://248qms3nhmvl15d4ne1i4pxl-wpengine.netdna-ssl.com/wp-content/uploads/2018/04/cryptocurrency-market-cap-april24.jpg)\nSource: CoinMarketCap\n\nAt present, the combined value of all cryptocurrencies is $430 billion, which puts the nascent asset class within striking distance of Facebook, who incidentally, a recent MIT Technology Review article suggested could [take down Bitcoin](https://www.ccn.com/mit-has-a-plan-to-take-down-bitcoin/) if it made a coordinated effort.\n\n## Bitcoin Price Continues Push Toward $10,000\n\nThe [Bitcoin price](http://ccn.com/bitcoin-price) continued to lose market share to its peers, and the flagship cryptocurrency now accounts for just 37.1 percent of the index’s total valuation. Nevertheless, Bitcoin continued to post a steady advance, rising approximately six percent to $9,367 on cryptocurrency exchange Bitfinex. Bitcoin now has a $159.5 billion market cap, and many analysts [predict](https://www.ccn.com/bitcoin-price-will-top-11500-soon-says-crypto-bull-predicted-recent-crash-and-rally/) that it will continue to grow throughout the year.\n\n[!\\[bitcoin price\\](https://248qms3nhmvl15d4ne1i4pxl-wpengine.netdna-ssl.com/wp-content/uploads/2018/04/bitcoin-price-april24.png)](https://248qms3nhmvl15d4ne1i4pxl-wpengine.netdna-ssl.com/wp-content/uploads/2018/04/bitcoin-price-april24.png)\nBitcoin Price Chart\n\n## Ethereum Price Leaps Past $700\n\nThe [Ethereum price](http://ccn.com/ethereum-price), meanwhile, beat the index by nearly two percentage points en route to a 10 percent surge that carried the coin above $700 for the first time since mid-March. The Ethereum price is now trading at $704, which translates into a $69.7 billion market cap and a 16.3 percent share of the index.\n\n[!\\[ethereum price\\](https://248qms3nhmvl15d4ne1i4pxl-wpengine.netdna-ssl.com/wp-content/uploads/2018/04/ethereum-price-april24.png)](https://248qms3nhmvl15d4ne1i4pxl-wpengine.netdna-ssl.com/wp-content/uploads/2018/04/ethereum-price-april24.png)\nEthereum Price Chart\n\n## EOS Price Continues to Lead Large-Cap Index as Market Swells\n\nThe bullish wave continued throughout the wider cryptocurrency markets, and the majority of top-tier altcoins outpaced Bitcoin’s single-day performance.\n\n[!\\[bitcoin price\\](https://248qms3nhmvl15d4ne1i4pxl-wpengine.netdna-ssl.com/wp-content/uploads/2018/04/altcoin-prices-april24.jpg)](https://248qms3nhmvl15d4ne1i4pxl-wpengine.netdna-ssl.com/wp-content/uploads/2018/04/altcoin-prices-april24.jpg)\nSource: CoinMarketCap\n\nThe Ripple price swelled by seven percent, brushing off accusations from a former Commodity Futures Trading Commission (CFTC) chairman that [XRP is likely a security](https://www.ccn.com/ethereumeth-and-ripplexrp-are-noncompliant-securities-says-fmr-cftc-chairman/) under US law. If the rally continues much longer, Ripple will likely reach dollar parity.\n\nFourth-ranked Bitcoin Cash matched the index with an eight percent climb, and the BCH price is currently valued at a global average of $1,488.\n\nThe EOS price, meanwhile, continued to post the large-cap tier’s most impressive single-day performance, [exploding by 26 percent](https://www.ccn.com/eos-price-rallies-15-as-kimchi-premium-returns-in-south-korea/) and racing to a nearly $12 billion market cap.\n\nThe Litecoin price increased by nine percent to just under $164, while Cardano’s similar advance carried its price to $0.31.\n\nStellar rose by seven percent to $0.39 and now boasts a $7.4 billion market cap.\n\nIOTA returned the top-tier’s worst performance, increasing just four percent to $2.19, while NEO rounded out the top 10 with a 10 percent rally to $83.40.\n\n*Featured image from Shutterstock.*\n\n**Follow us on [Telegram](https://telegram.me/ccncom).**\n\nAUTHOR:** ****Josiah Wilmoth**\n\nJosiah is a full-time journalist at CCN. A former ancient and medieval literature teacher, he has been reporting on cryptocurrency since 2014. He lives in rural North Carolina with his wife and children. Follow him on Twitter @Y3llowb1ackbird or email him directly at josiah.wilmoth(at)ccn.com.\n\n "}