The Ethereum (ETH/USD) price has surpassed $752 for the first time in history, recording a 20 percent increase in value over the past 24 hours, led by the US market, Cryptocoins News reported.
Currently, the daily trading volume of Ether is close to $5 billion, more than four times larger than Bitcoin Cash (Bitcoin.Cash), the third largest cryptocurrency in the global market behind Bitcoin (Bitcoin) and Ethereum.
The Ethereum blockchain network processes more transactions than all of the cryptocurrencies in the market including Bitcoin combined at 820,000 transactions per day.
Decentralized applications such as CryptoKitties and EtherDelta have also demonstrated the potential of Ethereum as the base protocol for decentralized exchanges and digital asset trading platforms, which is an application that is useful beyond finance.
Already, CryptoKitties has processed $15 million worth of digital kittens within the past two months and other apps like EtherDelta have also been processing more than 80,000 transactions on a daily basis.