The air reached a new high of $ 1,270

The price of air has crossed the mark of $ 1,200 and at its peak reached $ 1,275 per 1 ETH. Korean cryptocurrency exchanges such as Bithumb, Korbit and Coinone, the air is already trading above $ 1,800 in terms of rate chart.

Capitalization Ethereum has exceeded 120 billion dollars, which allowed him to once again become the second largest cryptocurrency after bitcoin and to move from this place Ripple, which has lost more than 20 billion of capitalization for days after Coinbase has denied the information about adding a Ripple on its platform.

The growth of air by almost half over the past two weeks have been primarily caused by information about testing the transition to hybrid mining PoW+PoS. After that I started to work a social phenomenon known as «fear of missed opportunities». Another factor could be the growing popularity of the decentralized applications CryptoKitties and EtherDelta who have demonstrated the potential of Ethereum. At the moment the Ethereum network processes around 1.2 million transactions per day, and increased only constrains the scaling problem, which should be partially resolved after the transition to hybrid mining.

Why South Korea cryptocurrency much more expensive

Although the prices for cryptocurrencies on the South Korean market are significantly above the world, to take advantage of this will not work for a number of reasons:

  • To register for the South Korean exchanges need mobile numbers of local telecommunications companies, which does not produce even a prepaid SIM card for persons without citizenship and those who have no residence permit or working visa.

  • Needed a Bank account in Korean Bank. But banks do not open accounts for foreigners without a visa. Now the South Korean banks struggle to open accounts even for citizens, due to the pressure of the government after it had been identified offshore and fraudulent accounts.

  • Thus the South Korean cryptocurrency market is isolated from global market and foreigners it is not allowed. Similarly, South Korean traders are unable to open accounts abroad without registration of the necessary documentation.

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