Investor and founder of crypto-currency hedge funds Mike Novogratz said that the Ethereum is ready to reach new record highs in the short term. Over the past few weeks, the daily volume of sales of the air has grown significantly, mainly due to the South Korean market of cryptocurrencies. After the government of South Korea introduced a nationwide ban on the initial deployment of tokens (ICO) in October, the demand for airwaves and its price in South Korea declined.
"I just had another person ask me if Casper and sharding will be a new coin and if so will there be an ICO. This makes me cry,"by Author
As CCN previously reported, Buterin has spoken out against open-source scaling projects conducting ICOs, especially those that are not in need of specific crypto-tokens to function.It is optimistic that investors and the market are enthusiastic in regards to scaling solutions and projects within Ethereum, as shown in the recent price trend of Ether.Coinbase CEO Brian Armstrong revealed earlier this week that $10 billion in institutional money is awaiting to be invested into the cryptocurrency space, after launching Coinbase Custody, a cryptocurrency custodian platform for institutional and retail investors.
"By some estimates there is $10B of institutional money waiting on the sidelines to invest in digital currency today,"by Author
Most institutional investors are planning to invest in Bitcoin by the end of 2017, upon the launch of CME's Bitcoin futures exchange. Man Group for instance, the $95 billion hedge fund, announced its finalized plans to invest in Bitcoin. As tens of billions of dollars in institutional money shift from the traditional finance sector to Bitcoin in the upcoming weeks, Ethereum, as the second largest cryptocurrency in the market, will benefit from the increase in interest of institutional investors towards the cryptocurrency market.
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