Why is Ethereum soaring high today!?
September 5, 2018 4:10 pm,
On a fairly quiet day for all cryptocurrency, one has emerged as the top, and that is Ethereum (ETH) and is beating all comers anyhow.
The ETH Classic Tokens are surging at a value of 13.7%. The peak value stopped at 59% in January, but the move still stands out to be one among the top ten cryptocurrencies which were lower earlier today. The Classic is still at the door, knocking waiting for the elite spot in the cryptocurrency group, rising from 13th largest to 12th spot.
All this including the two-year spin-off from the better known ETH blockchain is rising up due to the support of the trading platform Robinhood Crypto to the coin.
What does this mean to ETH?
RobinHood crypto is the cryptocurrency trading arm of the online stock broker RobinHood Markets. This trading platform has been only there since February 2018 and has already expanded from 5 to 19 states in the United States of America.
Given its status as the leading broker for more traditional objects such as objects like stocks and options, the experts expect it to become a leader in the cryptocurrency sector as well. The Classic is the 6th cryptocurrency to enter this trading platform. The website and the trading apps also deliver real-time market data for ten other digital currencies. It mainly aims to expand widely in this market and also stretch its services to other states and also go easy on the regulatory forces to allow its improvement and also solve the technical issues.
How does Classic differ from the plain old one?
The now known Classic was the main ETH back then. In 2016, hackers had stolen $3.6 million ETH tokens from its venture based capital fund, forcing the system to come up with better technology and security to deal with situations like this. The solution included dividing into 2 entities and the one new chain would include security measures to restore and prevent any tampering. So, in short, the old Classic is still based on the old ETH with the original Blockchain and core ideas. Now, the entire ETH universe is based more on sending and preserving data than about trading tokens and building wealth.