【Watch Bikini Pirates (2006)】

Ethereum is Watch Bikini Pirates (2006)the second-largest cryptocurrency again.

The decentralized app platform was holding the number two spot, behind Bitcoin, since last spring, until it was briefly dethroned by banking-oriented Ripple in January.

But Ripple's price is currently in free-fall -- down 19.2% in the last 24 hours -- while Ethereum is up 6.9% according to CoinMarketCap.

UPDATE: Jan. 8, 2018, 5:25 p.m. CET The main reason for Ripple's sudden price drop was CoinMarketCap's decision to quietly remove the prices of several cryptocurrencies, including XRP, BTC and ETH at Korean exchanges from the total average. Since cryptocurrency prices at Korean exchanges often vary significantly from those in other parts of the world, this decision caused Ripple's market cap to instantly drop by roughly 20 billion. The change did not affect Bitcoin and Ethereum as much since the total volume of these coins traded on Korean exchanges is far smaller, in relative terms, than the volume of XRP traded in Korea. The change wasn't announced on CoinMarketCap's site or official Twitter or Facebook. It was only noted at the bottom of the "Markets" section of CoinMarketCap's page for Ripple and other coins. Interestingly, even though this sudden change likely triggered some panic selling, Ripple's chief cryptographer David Schwartz noted on Twitter that the new price of Ripple (aka the current price) is "more accurate and meaningful."

The current price of Ethereum is $1,197.5 with a market cap of $116 billion. The price actually pulled back a little; earlier on Monday it briefly went to $1,261, a new record for the cryptocurrency.

Mashable Light Speed Want more out-of-this world tech, space and science stories? Sign up for Mashable's weekly Light Speed newsletter. By clicking Sign Me Up, you confirm you are 16+ and agree to our Terms of Use and Privacy Policy. Thanks for signing up!

SEE ALSO: Ethereum crosses historic $1,000 milestone

Ethereum's recent bull run has been impressive: The price of 1 ETH hit $440 for the first time in late November 2017; it crossed $800 in December 2017, and it blasted through $1,000 in January 2018.

Original image has been replaced. Credit: Mashable

Ethereum could be rising on the recent launch of a test network for Casper, a significant upgrade of the Ethereum protocol that would introduce a new way to how the network forms consensus. Furthermore, Ethereum co-founder Vitalik Buterin recently launched two subsidy schemes that should encourage third-party developers to work with Ethereum to solve its current scalability issues. These became painfully apparent in December, when a virtual cat trading game slowed down the entire Ethereum network considerably.

There's also a constant stream of attention towards Ethereum as it's currently the largest platform for initial coin offerings or ICOs. Startups have collected billions through ICOs over the past year, and new ones are cropping up daily.

Other large cryptocurrencies haven't had such a good day. Bitcoin is down 8% in the last 24 hours, while Bitcoin Cash and Cardano -- number four and five by market cap -- are down 16.6% and 5.4%, respectively.

Disclosure: The author of this text owns, or has recently owned, a number ofcryptocurrencies, including BTC and ETH. 

---

Featured Video For You

---

People are spending millions on virtual CryptoKitties

---

Topics Bitcoin Cryptocurrency

• Deals
• Social Good
• Science
• Digital Culture
• Life
• Tech
• Shopping
• Games

• Who is SpaceX's first moon passenger, Yusaku Maezawa?
• It’s Never a Bad Time to Brush Up on Your Demonology
• Daily Cartoon: 1439, Movable Type
• Humanities Majors: the Silicon Valley Cult Wants to Eat Your Brain
• How to Balance Video Games with Real Life
• best audiobook eva?: Lorin Stein Answers Your Questions
• Soviet Women Soldiers of World War II
• Daily Cartoon: 1439, Movable Type
• Productivity Boost: Enable 'Night Mode' on All Your Devices
• Staff Picks: Emma Reyes, Siegfried Sassoon, Eugene Lim, and More

• 'Quordle' today: See each 'Quordle' answer and hints for October 27
• 5 reasons why you should buy Apple's new iPad
• 'Quordle' today: See each 'Quordle' answer and hints for October 26
• Just a normal adult here, definitely not 2 kids in a trench coat
• Bono was to blame for Apple's 'free' U2 album drop
• The internet can't cope with BTS' new video for 'Boy With Luv'
• Tiger Woods won the Masters, and everybody loves a comeback
• Google employee organizers say they faced retaliation at work
• The new season of 'Doctor Who' is coming to Disney+
• The 'House of the Dragon' accessories, ranked

• The Beatles biopic casts all the internet's boyfriends in one movie
• The Great Nadar: Mementos from a Famous French Photographer
• Help! My Friend Is a Vaper: Advice from ‘The Paris Review’
• Meeting Sam Shepard at a Friend’s House on Eighth Avenue
• SpaceX's BFR has a new name. Elon Musk is calling it Starship.
• The Case of the Purloined Portrait
• It Was a Year of Pirates: Read Joe Scarborough’s Favorite Poem
• Can a Novel Be a Fugue?
• Analyzing Graphics Card Pricing: October 2018
• Mother Monster: “Mommie Dearest,” “Book of Mutter,” and Unhappy Moms

• Best smartwatch deal: Save $40 on the Fitbit Versa 4
• Italy vs. Romania 2025 livestream: Watch U21 Euro 2025 for free
• Mother Monster: “Mommie Dearest,” “Book of Mutter,” and Unhappy Moms
• From Vienna with Love (And Other Mixed Emotions)
• Best iPhone deal: Save $147 on the iPhone 15 Pro Max
• Soviet Women Soldiers of World War II
• The Great Nadar: Mementos from a Famous French Photographer
• Can AI Write Pop Songs? On Music and Machine Language
• ‘Jurassic World’: What was the headbutting dinosaur who saved the day?
• Can a Novel Be a Fugue?