The price of etherether’s ether hit a new record on Tuesday, driven by the introduction of CME futures a day ago

The cryptocurrency rose to over 1 at around 9:30 a.m.$ 800 per tokenm GMT rose 10% in the last 24 hours Ethereum’s all-time high coincided with Bitcoin breaking a new record of 48$ 000 cracked after Tesla revealed a $ 5 billion Bitcoin investment, all of which add momentum to mainstream crypto adoption

On the first trading day of the CME with Ether Futures, almost 400 contracts were traded on the platform, which corresponds to around 19 according to the Coin Market Cap400 ETH, or $ 33 million, the exchange announced its plans to start trading ETH futures in December

The introduction of the CME will significantly bolster Ethereum’s credibility as an asset class just like Bitcoin in 2017, said Samantha Yap, founder and CEO of Yap Global While Ethereum is still often referred to as Bitcoin’s lesser cousin, the Changing perceptions of the media at this launch, she said

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In addition, the introduction could increase price volatility. A couple of reasons could contribute, said Gunnar Jaerv, COO at the digital asset custody provider First Digital Trust

Institutions could trade in bulk as interest in digital assets is greater today than ever before when the CME launched Bitcoin futures in 2017, its price fell from $ 20 almost immediately000 USD on 13000 USD

Regardless of the Crypto Fund Manager Grayscale adding more ETH to his trust, traders can expect a further increase in institutional interest in futures on digital assets, especially since there is no actual delivery of ETH on the settlement day, which makes it easier for institutional players to settle must attend as digital asset custody is not required

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Ethereum

World news – FI – Ethereum shoots to a new all-time high after March 1 for the first time since the start of the CME futures800 USD

Source: https://www.businessinsider.com/ethereum-price-record-rally-all-time-high-cme-futures-launch-2021-2