Ether Rises Above $900 Since 2018, Hours After $800 Feat
Ether price seems to have taken a leap like its sister crypto, Bitcoin. The price of ether (ETH) for the first time since February 2018, traded above $900. The spike in its price happened few hours after it struck $800 newly since March of the same year.
The native currency of the Ethereum network hit a nearly three-year high of $964.66, before giving back a little to $960.79, up 25.4% over the last 24 hours..
The second-highest cryptocurrency by market cap, the total value of ether is currently $110.1 billion.
Ether’s move coincides with growing institutional interest in the cryptocurrency and the upcoming launch of ETH futures on the CME on Feb. 8.
Also, ether is almost certainly getting a lift from the eye-popping price run of bitcoin over the last 24 hours.
Though not as dramatic as bitcoin’s surge, the rise in the price of ether is accelerating. After breaking $600 for the first time since May 2018 in November 2020, it broke $700 for the first time since that same month in 2018 on Dec. 27, 2020, and has now notched $800 and $900 in the same morning.
This article is sourced from:https://www.coindesk.com