Ethereum back in track after devastating China’s ICO ban

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The loss in ETH/USD exchange rate due to the regulatory action in China is back in track with a rate of $285 on Tuesday.

The second largest cryptocurrency by market capitalization was devastated by the move of Chinese exchangers who announced that they would shut down ether-yuan trading under pressure from regulators. Due to this move from the investors, the exchange rate was down to $198 on Friday- the lowest since July. Due to the exchange crackdown the cryptocurrency was going downhill but just for a while. As soon as the Investors realized it would not affect crypto to crypto trading, the rate started to climb up. expectations are high for the continuity of Chinese traders to participate in the market via offshore exchanges.

A new version of ethereum’s Geth node software was released Friday – an update that includes various protocol changes for its upcoming “Metropolis” hard fork. Ethereum is currently on target to activate the so-called Byzantium upgrade within the next month.

 

 

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