The last couple of days have seen Ethereum ETH surge and mark a new high. The surge was facilitated by the coin’s ability to resist bearish pressure and stay above established short-term support positions.
In less than one week, Ethereum has climbed from a $122 position to hit as high as $149 before encountering resistance. Its impressive gains which began around Feb 08 have further seen the coin overtake XRP and create a more than $1.5 billion difference between the two at the time of press.
At the time of press, the coin is recording marginal gains as the market records a wider slow down following a strong start of the week. However, there’s high optimism that the coin will hit over $153 soon, surpassing its 2019 high.
The price surge comes when the anticipated Constantinople fork nears an event that could see Ethereum further extend its gains dramatically.
Ethereum Network Could Have Been Used To Launder Money
Since the emergence of cryptocurrencies, there has been a lot of criticism that they are used to fund illegal activities and to largely launder illegal money. Now, a mysterious transaction in the Ethereum network could be providing the needed evidence to prove the critics right.
According to reports, mining pool Sparkpool received Ethereum worth $300,000 for confirming a transaction of Ethereum worth $14. Many experts have now pegged the transaction as an attempt to “wash” or launder money.
Due to the nature of the network not having predetermined miners to approve specific transactions, which means any miner could have landed on this transaction, some experts are calling this a mistake one that must have been caused by an interface issue.
Currently, the transaction is still being verified and there’s expected to be more clarity about it in the coming days.
Vitalik Buterin Talks About His Portfolio- Creator Heavily Invested In ETH
Vitalik Buterin has been disclosing his crypto holding and revenue holdings as he aims to share any possible conflicts of interest with the Ethereum community. The creator of Ethereum has stated that he holds high profile tokens like Bitcoin, Bitcoin Cash, Zcash and Dogecoin all which amount to less than 10% of his Ethereum ETH holdings.
Given this claim, it is clear that Vitalik is heavily invested in Ethereum and will possibly work as hard as possible to see his holdings’ value hit as high as possible.
