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Newsflash: Ethereum price bursts through $ 800 as bulls maintain momentum

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The Ethereum price broke the $ 800 mark Friday, as the market shook its regulatory concerns to reach its highest level since early March.

The world's second-largest cryptocurrency entered the month below $ 650, but suffered a rift within the next three days. This rally continued this morning, and the price of the Ethereum hit $ 800 on Bitfinex shortly before 12:00 UTC

At the time of writing this report, ETH was trading slightly below this mark at $ 799 and had an outstanding market capitalization of $ 79.3 billion.

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ETH Price Chart

The rally came after the bullish sentiment of the co-founder of Reddit Alexis Ohanian, who is also a founding partner of the venture capital firm Initialized Capital, predicted that the price of the Ethereum will reach $ 1,500 by the end of the year, although his comments have drawn more than headlines.

Notably, this price movement seems to indicate that traders and investors are not concerned by reports that US regulators will meet on Monday to discuss whether ethereum and some other cryptocurrencies are federal securities.

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Click here for a table of etheric prices in real time.

Image of Shutterstock at a time

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