Ethereum is back above $200 an ether, trading up 5.29% following a Bloomberg report suggesting bitcoin’s civil war may be coming to an end. A decision on whether or not bitcoin will be split is due on August 1. 

Tuesday’s gains mark a second straight advance for the bewildered cryptocurrency, which had fallen as much as 65% from its record high of $395 set on June 13. Over the weekend, Ethereum crashed 25% amid ongoing concerns of a cryptocurrency bubble and rise in popularity of Initial Coin Offerings

Investors have also had to stomach a flash crash that saw Ethereum’s value tumble from $295 to $0.10 in a matter of minutes before quickly recouping those losses. 

Ethereum has seen a meteoric rise in the cryptocurrency universe. At the beginning of the year, it made up just 5% of the market, but that number had swelled to 30% by June 22. 

Ethereum is up more than 2,100% in 2017.

Ethereum

 

 

SEE ALSO: Bitcoin is on a tear amid signs that its civil war is coming to an end

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