Getty The cryptocurrency is currently selling for $761.52 at the time of writing

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The cryptocurrency is currently selling for $761.52 at the time of writing. This marks a significant rise of $347.55 to its value over the course of the last month. Positive trends of the virtual money have also continued into the last seven days. Ethereum has climbed by 11.94 per cent in the last seven days, marking a price increase of $81.20.

However, the cryptocurrency is still sitting at prices much lower than the whopping highs it reached in January. On January 14 Ethereum was trading at $1,338.67 - following the huge price spike its values, however it then tumbled. Tumultuous trading took place after the incredible highs with a few price increases offering hope to investors. Over the course of the last year Ethereum has climbed by 729.78 per cent in price.

Cryptocurrency price: A year in charts Mon, March 12, 2018 Compare crypto currencies (Ripple, Bitcoin, Ethereum, LiteCoin) on value, market cap and supply for the past year Play slideshow coindesk.com 1 of 10 LiteCoin is going down with the market dip

Back in December of 2017 the virtual money was trading at dismal numbers of $88.66 before it grew sizeably. Sergey Brin, a co-founder of Google, recently gave Ethereum mining credit for playing a role in the “boom in computing” currently taking place. He stated: “We are truly in a technology renaissance, an exciting time where we can see applications across nearly every segment of modern society.

“There are several factors at play in this boom of computing. “First, of course, is the steady hum of Moore’s Law. “The second factor is greater demand, stemming from advanced graphics in gaming and, surprisingly, from the GPU-friendly proof-of-work algorithms found in some of today’s leading cryptocurrencies, such as Ethereum.”

Getty Ethereum prices have skyrocketed this month marking a rise of 83.96 per cent

Getty Over the course of the last year Ethereum has climbed by 729.78 per cent in price