There hasn’t been much action in the cryptocurrency market up until Sunday. The new week started with 11% overall market capitalization gain. Ether is leading the price surge with an impressive 23% gain to $148,7. It has jumped from $123 to $148,7 just in two days. Ethereum’s next update is approaching in two weeks which will reduce Ethereum’s block reward from 3 ETH to 2 ETH. Block reward refers to new Ethers that are created and awarded to miners. Reducing the block rewards increases the scarcity of a coin which usually has positive price impact.
Bitcoin is up by 8.7% to $3941. The first Bitcoin transaction was successfully done over a radio antenna using 7.077 Mhz radio waves without internet or satellite. The Bitcoin transaction was sent over the distance of over 640 kilometer all the way from Toronto, Canada to Michigan, USA. A number of institutional investors showed continued interest in cryptocurrency market. Including JP Morgan new coin, which brought a lot of attention to crypto. Second largest stock exchange Nasdaq will be adding Bitcoin and Ether indices to its platform.