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Ethereum Price on the Rise After Brexit Vote

By

Danielle

Meegan

WriterETHNews.com

Brexit caused fiat currencies to fall while Ethereum's value increased.

The FTSE (Financial Times Stock Exchange) fell 7%, but ended at negative 3.5%. The Dow lost 600 points. Euro Stoxx 50 dropped 8.5%. The GBP declined eight percent in comparison to the USD.

The reason? Britain has decided to leave the European Union in what was known as “Brexit”. Experts predicted these plunges long before the vote and warns citizens of the consequences.

While these markets may have taken a tumble, the price of Ethereum is one the rise. As the official Brexit verdict was announced, alternative currencies and precious metals, such as Gold surged.

The chart below is listed in USD.

brexit vote graph

The official announcement came approximately around 8:45pm PST/4:45am GMT. The Ether markets steadily climbed up the charts. Both the ETH value in GBP and EUR reached their peak between 6:15-6:30am GMT at £10.69 and €13.28, respectively. The USD value of ETH peaked at $14.43 around 11:20pm PST.

At the time of writing, Ethereum is listed at $14.09 (3.74% 24hr), £10.21 (12.12% 24hr), and €12.57(5.032% 24hr).

Danielle Meegan

New Hampshire native, Danielle Meegan, is a writer based in Los Angeles. She has been published in a couple of sports and entertainment magazines and newspapers throughout the years and has dabbled with multiple virtual currency exchanges to understand the 'ins and outs' of trading. Danielle has invested in over 15 different virtual currencies, including Ether.

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