- The price of ethereum, a bitcoin rival, fell more than 15 percent Wednesday amid a flood of demand and increased worries it may face a divisive debate on how to upgrade its network.
- The sharp fall comes after ethereum shot up more than 3,000 percent this year, far surpassing bitcoin’s already stellar 180 percent gain and coming close to beating bitcoin as the digital currency with the greatest market value.
- On Tuesday, investor demand at the funding launch for an ethereum-based messaging app called Status clogged the ethereum network.
- In the last several weeks, a surge in digital currency prices has contributed to a flood of investor demand, which has overwhelmed websites and attracted cyberattacks.
- Bitcoin’s price fluctuated in the last few months as developers debated the best way to upgrade the network.
@CNBC: “Ethereum drops 15.5% as increased demand sparks fear of growing pains” open tweet »