Ethereum is one of the best performers

Ethereum is one of the best performers

Ethereum ETH was first described in a white paper by Vitalik Buterin in 2013. ETH was formally announced at the North American Bitcoin Conference in Miami in 2014 and launched in 2015. However, in early 2016 the Decentralized Autonomous Organization (DAO) was hacked, resulting in a $50 million loss to investors. "Ethereum is one of the best performers"

Ethereum is one of the best performers

In an effort to recover the price losses, a majority of the Ethereum developer community decided in favor of a hard fork, which invalidated the transaction. This led to a split in the Ether. Ethereum was used by those in favor of the hard fork, while Ethereum Classic (ETC) was used by those who continued on the old blockchain. Both are still in use today.

Ethereum is once again on the mend, after climbing from $167 yesterday up to $177.59 today. The cryptocurrency has also been on a gradual uptrend against Bitcoin (BTC) since at least September 24, climbing from a low of 0.0191 BTC/ETH up to 0.0216 ETH/BTC as of writing—equivalent to a 13% growth in the past six days.

Although Ethereum is recovering well, it is not the only cryptocurrency in the green today. Barring a few exceptions, the entire cryptocurrency market is up, though Ethereum is one of the best performers, having gained 5.5% in the last 24 hours.

Although gaining more than 5% in a single day would be impressive during a bull market, these gains are largely overshadowed by the 11.6% ether has lost since last week. Similarly, the cryptocurrency is still down more than 50% in the last three months.

Ethereum has also seen it's hash rate improve somewhat after dropping off last week—recovering from a low of 191TH/s on September 24, up to 194TH/s today. However, the number of transactions processed on the Ethereum network remains in decline, having fallen from over 1 million transactions on June 24, down to just around 700,000 per day throughout September.

Overall, things are still up in the air for Ethereum, as the cryptocurrency struggles to recoup the significant losses incurred early last week.

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