Reddit Co-Founder Says Ethereum Price Will Reach $15,000 This Year

Reddit Co-Founder Says Ethereum Price Will Reach $15,000 This Year:

Alexis Ohanian, a co-founder of Reddit, said that he predicts the price of Ethereum (ETH) will reach $15,000 in 2018, Fortune reports May 2.

Ohanian, who now works full-time at a venture capital (VC) firm Initialized Capital, said in an interview, “At the end of the year, Bitcoin will be at $20,000. And Ethereum will be at $15,000. Great, now people can call me out if I’m wrong.” He said that he’s bullish on ETH because “people are actually building on it.”

Should Ohanian’s prediction prove true, the ETH market cap would soar from $67 bln to nearly $2.5 trln, while Bitcoin would recover to last year’s record high price and market cap of $340 bln.

Read moreReddit Co-Founder Says Ethereum Price Will Reach $15,000 This Year

Crypto Carnage Continues – Bitcoin Back Below $7,000, Ether Under $400

Crypto Carnage Continues – Bitcoin Back Below $7,000, Ether Under $400:

Despite a brief bounce overnight, cryptos are sliding once again with Bitcoin below $7,000; Ethereum below $400; and Ripple back below 50c.

“It’s a sea of red,” said one seasoned crypto-trader, adding after a stoic pause, “again!”

Amid the worst month for tech stocks in years, cryptos are in freefall…

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Unknown Group Pays $175 Million For 74,000 Acres In Nevada For Mysterious Ethereum Project

Unknown Group Pays $175 Million For 74,000 Acres In Nevada For Mysterious Ethereum Project:

All told, Blockchains bought 74,000 acres for $175 million – the largest deal since the park was developed in 1998, and more than the Gigafactory and the other corporate campuses.

A little-known company focused on the underlying technology behind cryptocurrencies such as Bitcoin has purchased a huge chunk of land at a Northern Nevada industrial park.

Storey County Commissioner and Tahoe-Reno Industrial Center broker Lance Gilman said he closed escrow last week on the sale of 67,125 total acres of land to Blockchains, LLC, a business that studies and develops applications for blockchain distributed ledger technology, the decentralized platform that makes up the backbone of Bitcoin and other cryptocurrencies

Though Gilman said he was prohibited from discussing terms of the sale, which is expected, he said that total value of the 74,000 acres in land sales closed this month at the park, including the sale to Blockchains, was worth about $175 million.

“There’s no question — they’re going to have a major footprint in the Tahoe-Reno Industrial Center,” he said.

But little information is publicly available about the company or its intentions, though Gilman says they now own more than 104 square miles at the industrial park. The land sale was first reported by Nevada Newsmakers.

According to the company’s website, which provides only a vague description of what the company does, Blockchains, LLC is a “premier innovator” in the blockchain industry, specializing in “financial services, software development of distributed applications (Dapps) for the Ethereum blockchain.”

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Ethereum traders joke about buying “Lambos,” but Lamborghini just reported record sales

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Ethereum traders joke about buying “Lambos,” but Lamborghini just reported record sales:

Lamborghini, the Italian maker of racy luxury automobiles, reported record sales today. It delivered 3,815 vehicles to customers last year, its seventh consecutive year of sales growth.

Now, correlation is not causation, but Quartz would like to point out that as Lamborghini sales have surged, so has the price of ether, the digital token used by the ethereum cryptocurrency network. Ether traders prize Lamborghinis (half-jokingly) as the ultimate status symbol in their world.

H/t reader kevin a.

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Ethereum Hits Record High Above $1,000 As Ripple Sinks On Coinbase Denial

Ethereum Hits Record High Above $1,000 As Ripple Sinks On Coinbase Denial:

Whether it is Coinbase’s denial of plans to include Ripple on its network or simply a broader understanding of the asset, 2018’s high-flyer is lagging today as investors regain their appetite for Ethereum (record highs over $1000) and Bitcoin (over $16k) overnight.

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