Ethereum Shows 91% Rise Year-to-Date After Surging to New All-Time High: Analyst
Forbes analyst Naeem Aslam has taken to Twitter to announce that, after reaching a new all-time high, the second largest cryptocurrency, Ethereum, has demonstrated a 91 percent rise in 2021—even though the first month of the year is not over yet.
ETH rises 91 percent in 2021 that has just started
Earlier today, Ethereum broke above its 2018 all-time high over $1,430 and topped a new ATH across major exchanges after climbing back to its peak of three years ago.
According to analyst Naeem Aslam, who writes for Forbes, the second biggest crypto coin has demonstrated a 91 percent rise year-to-date.
Back on Jan. 3, ETH was changing hands in the $780 area but, since then, it has overcome the $1,000 mark. Now, it has topped a new all-time high above $1,439 across major exchanges.
The previous historical peak reached by ETH in 2018 amounted to $1,432.
Yuri MolchanETH futures OI soars to an all-time high
Data shared by the Glassnode analytics firm shows that open interest in Ethereum futures on major exchanges (Binance, Kraken, BitMEX, Deribity, Huobi, etc.) has spiked to a new all-time high of $4.5 billion.
This shows an inflow of funds into ETH from financial institutions. Speaking of ETH futures, major crypto derivatives platform CME Group and the first to launch BTC futures in December 2017 (together with CBOE), has recently announced the approaching launch of ETH futures on Feb. 8.
As a reminder, CME is the number one exchange that offers crypto trading products to financial institutions.
Retail investors are also flowing into Ethereum. According to data shared by Glassnode, the number of wallets holding 0.01 ETH and more has been growing at a quick pace.
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Arman Shirinyan
Alex Dovbnya
Dan Burgin
Vladislav Sopov