Price Watch: Bitcoin, Ethereum, EOS, Ripple and IOTA Back in Green

The cryptocurrency market is showing signs of recovery from a recent slump that saw Bitcoin descend below $6,000 in July 2018 as positive investor sentiment returns to the ailing blockchain ecosystem.

Ethereum, currently ranked #2 by market cap, is down 2.45% over the past 24 hours.

ETH has a market cap of $29.49B with a 24 hour volume of $1.59B.Chart by CryptoCompare.

Ethereum is down 2.45% over the past 24 hours.

Ethereum Rises Above $300. Ethereum broke the $300 level as of press time, once again rallying beyond the critical level as the token continues to trade at a price point not seen since November 2017.

Weekly losses on the Ethereum chart sit near 6 percent, while total movement over the last month has seen the value of Ethereum plummet by more than 35 percent.

Ethereum co-founder Joseph Lubin decried speculator-driven price swings in a recent interview with Bloomberg, stating that "Trader types" are driving volatile changes in price activity.

Developer activity within the blockchain space, states Lubin, has risen by two orders of magnitude since 2017, citing the increased activity in core infrastructure development as a key driver of adoption and exponential market growth.

Lubin's bullish perspective on the future of crypto markets is reflected by analysis firm Sanford C. Bernstein & Co, who predict a $4 billion increase in crypto exchange revenue over the next year in a recent report entitled "Crypto Trading - the Next Big Thing is Here?".

The maturation of the crypto-asset class and an increase in institutional demand, argues the Wall Street firm, will result in a "Plethora of opportunities for traditional firms" as institutional capital continues to be drawn to the crypto market due to the development of custodial and market-making services within the sector.