Novogratz is optimistic about the future of Ethereum

The former executive of Fortress, Mike Novogratz, believes that Ether will achive all time highs in the short term.

Novogratz stated:

ETH looks poised for a move to new highs. Lots of good news on the horizon.

According to, the daily trading volume of Ether has increased substantially, primarily led by the South Korean market. Subsequent to the South Korean government’s imposition of a nationwide ban on domestic initial coin offerings (ICO) in October, the price of Ether and the demand for Ethereum decreased in South Korea for a brief period.

Since then, the South Korean Ethereum exchange market has recovered, accounting for over 33 percent of the global Ethereum exchange market share, overtaking the US to solidify itself as the leading Ethereum market.

The market has started to demonstrate optimism towards the network stability of Ethereum after the Byzantium hard fork, and significant progress being made with both on-chain and off-chain scaling solutions such as Plasma, sharding, and Casper.

Vitalik Buterin, the co-founder of Ethereum, revealed that several investors have inquired Buterin if the Ethereum Foundation intend to pursue ICOs for sharding and Casper.

Buterin stated:

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.

Given the positive news and latest developments, it is expected that the price of ether will have a positive trend in the coming period.

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Written by Brad Chillum

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