Ether (ETH), Ethereum’s unit of account, seems to be racing to catch up to Bitcoin. Its market cap, at $823,656,320 at the time of writing, takes the second spot and has left other digital currencies such as Ripple, Litecoin and others far behind.
Speaking of Ether price, the chart shows upward trend. Since the beginning of 2016, ETH price has moved upwards from the below $1 levels seen for quite some time and currently trades at $10.60 levels.
In a move to further boost Ethereum’s reach, the developers have announced the first Ethereum ATM – a modified version of the Lamassu Bitcoin ATM that now supports both currencies – BTC and ETH. The ATM is located in San Mateo, California.
“In we work constantly to provide Ethereum community with transparency and independence that crypto community is looking for. And today we are happy to announce that first ATM is open to take your cache for real shiny Ether”, the online post reads.
The post further said that Lamassu’s open-source code provides an easy and direct way to support other use cases, such as interacting with smart-contracts directly from a machine.
Given the tremendous growth of Ethereum in the past few months, this first ATM seems to be just the beginning. The day is not far when several other bitcoin ATMs will start offering support for Ethereum.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference, according to the website.
Based in Manchester, New Hampshire, Lamassu is one of the first companies to create Bitcoin ATMs. The company, cofounded by brothers Josh and Zach Harvey, aims to harness the technological supremacy of cryptocurrencies and provide this same experience to those who’ve never had access to basic financial services in the past.
