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Blockchain and Bitstamp announce support for Ethereum

Ethereum, the second-biggest cryptocurrency behind Bitcoin, has continued its recent upwards trend after Blockchain and Bitstamp announced support for t...

Callum Rivett
|Aug 18|magazine4 min read

Ethereum, the second-biggest cryptocurrency behind Bitcoin, has continued its recent upwards trend after Blockchain and Bitstamp announced support for their customers to trade in the digital money.

Blockchain is the largest wallet for cryptocurrency and this announcement is the first time they have integrated a new currency since its launch in 2011.

The move comes soon after Ethereum hit $300 for the first time in five weeks - having previously reached highs of $400 back in June - but the Bitcoin rival had risen $114 in the past month to recover.

CEO Peter Smith stated: "As the popularity of ethereum has grown, so has the desire from our customers to have the option to manage multiple digital assets within their blockchain wallets."

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"We are thrilled to introduce this new functionality to our community and will continue to find ways to make interacting with digital assets even easier."

Blockchain recently secured $40mn in a Series B funding round and boasted investors such as Virgin founder Richard Branson, taking the total raised to $70mn.

Bitcoin, meanwhile, has enjoyed a productive two weeks after since the split on August 1, hitting record highs in consecutive days before dipping at $4,425.

Cryptocurrency has thrived in a break-out year so far, with the market value rocketing from below $20bn at the start of the year to around $140bn.