Ethereum (ETH), the biggest altcoin by market capitalization, has registered a modest 1.79 percent price increase over the last 24 hours that pushed it closer to the psychologically important $200 mark. At press time, it is sitting at $198.2, according to Coin Stats data.
ETH is up by more than 15 percent since American venture capitalist Fred Wilson announced that he had changed his stance on the top altcoin. As reported by U.Today, Wilson, who earlier predicted that Ether’s market cap would surpass that of Bitcoin, acknowledged that Ethereum suffers from scaling issues in his lengthy blog post entitled “Some Thoughts On Crypto.”
While its tempting to assume that these green price updates could be a sign of another alt season, Ethereum’s short-term rival might be attributed to the first-ever Ethereal Summit and the recent BitPay addition.