Saturday, February 27, 2021
Only Bitcoin Market News
Advertisement
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos
Only Bitcoin Market News
No Result
View All Result

Ethereum catapults to new all-time high past $1,600 as investors pile in ahead of

3 weeks ago
in stock
3 min read
Ethereum catapults to new all-time high past $1,600 as investors pile in ahead of
Share on FacebookShare on Twitter


ethereum

Yu Chun Christopher Wong/S3studio/Getty Images

  • Ethereum shot past $1,600 to secure a new all-time high ahead of next week’s CME futures launch.
  • The digital asset hit a record high of $1,698.56. Meanwhile, bitcoin rose 3%, to $37,381.
  • Crypto traders have a valuable lesson to learn from last week’s Reddit war against Wall Street players.
  • Sign up here for our daily newsletter, 10 Things Before the Opening Bell.

Ether, the native cryptocurrency of the Ethereum network, pierced a new all-time high on Thursday, bringing its year-to-date rally to 128%. 

Continuing bullish momentum led the token’s price to hit a record high of $1,698.56, before settling around 2% lower.

Although the trade seems to be partly fueled by speculation, a major factor driving demand is the Chicago Mercantile Exchange’s launch of Ethereum futures on February 8.

Ethereum’s upward trajectory may be representative of the “fortunes of the entire cryptocurrency ecosystem,” said Paolo Ardoino, CTO of Bitfinex. One macroeconomist expects the price to surge higher, to around $1,920, ahead of the CME launch.

Rising confidence among institutional investors over blockchain-based technologies has also helped Ethereum’s influence grow within the sphere of cryptocurrencies. Euphoria in the hot asset class boosted the total market value of cryptocurrencies above $1 trillion for the first time last month. 

Grayscale Investments, the world’s largest cryptocurrency fund manager, this week added an extra 25,000 ETH coins, bringing its total Ethereum holdings to $4.5 billion. The fund also reopened its Ethereum fund to accredited investors. 

Read More: Famed short-seller Carson Block says a new type of liquidity bubble is feeding the wild swings in day-trading favorites like GameStop – and warns that stocks have become a fragile ‘game’ 

Separately, bitcoin rose 3% on Thursday to $37,381.04, against the backdrop of continuing global macroeconomic uncertainty with the potential to devalue fiat currencies.

Further, crypto traders have a valuable lesson to learn from the tussle between Reddit traders and big Wall Street players last week. 

“When you engage with centralized finance, you will always be, to some extent, putting your trust and faith in a brand,” said Sergey Nazarov, the co-founder of Chainlink. Decentralized finance offers users the ability to trade without the fear of being shut down, rules that apply equally to all sides, and full control over one’s assets, he said.

“Add in the fact that we’re entering one of the lowest yield environments in decades and DeFi lets anyone earn high yield, and of course more and more people will pour into the Ethereum space in order to engage with these popular applications,” Nazarov said.

Read more: Investors are flocking to trade Dogecoin and other hot digital tokens with no Robinhood-style restrictions on Voyager. The CEO tells us why Bitcoin will hit $100,000 this year – and 3 other cryptocurrencies to watch

 





Read more:Ethereum catapults to new all-time high past $1,600 as investors pile in ahead of

Related articles

Market Wrap: Bitcoin Heads for Worst Week Since March as Prices Hold Around $46.5K

Market Wrap: Bitcoin Heads for Worst Week Since March as Prices Hold Around $46.5K

February 27, 2021
Bitcoin Slides in Worst Weekly Drop Since March Amid Selloff

Bitcoin Slides in Worst Weekly Drop Since March Amid Selloff

February 26, 2021
Tags: AheadAllTimebitcoin news todaycatapultsEthereumHighInvestorspile

Related Posts

Market Wrap: Bitcoin Heads for Worst Week Since March as Prices Hold Around $46.5K

Market Wrap: Bitcoin Heads for Worst Week Since March as Prices Hold Around $46.5K

by Bitcoin Market
February 27, 2021
0

Bitcoin’s price turned choppy on Friday as the No. 1 cryptocurrency by market capitalization logged its worst weekly performance...

Bitcoin Slides in Worst Weekly Drop Since March Amid Selloff

Bitcoin Slides in Worst Weekly Drop Since March Amid Selloff

by Bitcoin Market
February 26, 2021
0

BloombergErcot Still Short $1.3 Billion in Energy Payments: Texas Update(Bloomberg) -- A second day of marathon hearings on Texas’s...

Crypto correction continues: Bitcoin drops to $US47,000, ETH below $US1,500 –

Crypto correction continues: Bitcoin drops to $US47,000, ETH below $US1,500 –

by Bitcoin Market
February 26, 2021
0

Cryptocurrencies have been losing ground over the last 24 hours – but the losses are still mostly in the...

Bitcoin Group SE with strong start into 2021- Integration of Bitcoin Deutschland AG

Robinhood added 6 million crypto users in last two months

by Bitcoin Market
February 25, 2021
0

BloombergBuffett’s Letter to Break Months of Silence Amid Tumult in U.S.(Bloomberg) -- While 2020 raged, Warren Buffett mostly held...

Grayscale’s Bitcoin Trust Is Trading at a Discount. Should Investors Worry? – Decrypt

Grayscale’s Bitcoin Trust Is Trading at a Discount. Should Investors Worry? – Decrypt

by Bitcoin Market
February 25, 2021
0

In brief Grayscale's Bitcoin Trust is trading at a discount for the first time in years. Some analysts are...

Load More

Trend Now

  • Trending
  • Comments
  • Latest
Crypto-Powered Social Media Platform Voice Planning Launch for July 4 | CryptoGlobe

Crypto-Powered Social Media Platform Voice Planning Launch for July 4 | CryptoGlobe

June 8, 2020
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

May 19, 2020
Argo Blockchain boosts mining margins in July

Argo Blockchain boosts mining margins in July

August 5, 2020
Institutional investors see Bitcoin holding US$50,000 suggests ETP provider

Institutional investors see Bitcoin holding US$50,000 suggests ETP provider

February 18, 2021
Bitcoin boom backstopped by central banks’ easy-money policies

Bitcoin boom backstopped by central banks’ easy-money policies

February 4, 2021
5 Cryptocurrency Staking Providers – A Review | Hacker Noon

5 Cryptocurrency Staking Providers – A Review | Hacker Noon

January 30, 2021
ETC Group’s bitcoin ETP reaches $1bn AUM in just eight months, which is ‘just the

ETC Group’s bitcoin ETP reaches $1bn AUM in just eight months, which is ‘just the

0
Bitcoin daily chart alert – Bullish chart pattern develops – May 19

Bitcoin daily chart alert – Bullish chart pattern develops – May 19

0
Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

0
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

0
Crypto.com’s MCO Visa Cards Are Now Shipping In Europe – Fintech Singapore

Crypto.com’s MCO Visa Cards Are Now Shipping In Europe – Fintech Singapore

0
Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

0
ETC Group’s bitcoin ETP reaches $1bn AUM in just eight months, which is ‘just the

ETC Group’s bitcoin ETP reaches $1bn AUM in just eight months, which is ‘just the

February 27, 2021
Bitcoin Group SE with strong start into 2021- Integration of Bitcoin Deutschland AG

Mexico’s Vitro says will use $75 million loan in U.S. to pay off debt

February 27, 2021
Top Crypto News: 02/27 – Cryptocurrency News – Altcoin Buzz

Top Crypto News: 02/27 – Cryptocurrency News – Altcoin Buzz

February 27, 2021
Cardano’s ADA Is Now the Third-Largest Cryptocurrency by Market Cap

Cardano’s ADA Is Now the Third-Largest Cryptocurrency by Market Cap

February 27, 2021
Bitcoin Price Forecast: Buyers make sure that price stays above $9,000 following

Bitcoin Price Analysis: BTC could try to reclaim $50K as selloff loses momentum at

February 27, 2021
Investment Firm Launches the First ‘Crypto Hedge Fund’ in Spain- Plans to Expand

Investment Firm Launches the First ‘Crypto Hedge Fund’ in Spain- Plans to Expand

February 27, 2021
  • Contact Us
  • Terms of Use
  • Cookie Privacy Policy
  • Privacy Policy
  • DMCA

© 2020 MarketForBitcoin.com

No Result
View All Result
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos

© 2020 MarketForBitcoin.com

  • bitcoinBitcoin(BTC)$47,211.000.447%
  • bitcoin-cashBitcoin Cash(BCH)$493.320.463%
  • binance-coinBinance Coin(BNB)$229.701.91%
  • bitcoin-goldBitcoin Gold(BTG)$26.710.253%
  • bitcoin-privateBitcoin Private(BTCP)$0.4090.853%
  • blocktixBlocktix(TIX)$0.0200.00%