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Ether Sets New All-Time High of More Than $3.8K
The new high water mark of $3,855.40 came less than a week after the cryptocurrency topped $3,000 for the first time.
Updated Sep 14, 2021, 12:52 p.m. Published May 8, 2021, 6:44 p.m.
Ether (ETH), the native cryptocurrency of the Ethereum blockchain, continued its recent torrid run, setting a new record price Saturday of over $3,800. This comes amid speculation the network’s value might soar as more traders warm to the potential of decentralized finance (DeFi) and non-fungible tokens (NFT) on Ethereum.
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- The new all-time high price of $3,855.40 came less than a week after the cryptocurrency topped $3,000 for the first time. Ether has since given back some of its gains and is now at $3,839.98, up 8.96% over the last 24 hours.
- The price of the second-largest cryptocurrency by market cap has quadrupled just this year alone, outperforming bitcoin (BTC), the largest cryptocurrency, which has doubled.
- Ether now has market capitalization of $443.8 billion, exceeding that of Johnson & Johnson, Walmart and UnitedHealth.
- Should ether continue on its upward trend, it won't be long before its market cap is half that of bitcoin's $1.107 trillion.
- The latest price move comes amid signs of growing interest in ether from big institutional investors and Wall Street firms.
- Late last month, the Wall Street investment research firm FundStrat predicted ether could surge to $10,000 this year, powered by enthusiasm over DeFi’s growth and advances in Internet-based financial applications.
- As for bitcoin, the price of the leading cryptocurrency is nearing $60,000 again, up 2.73% to $59.207.09 at press time.
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Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
What to know:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
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