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Ethereum Shows 91% Rise Year-to-Date After Surging to New All-Time High: Analyst

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Tue, 01/19/2021 - 14:11
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Yuri Molchan
While Ethereum has reached a new all-time high, it has also shown a 91% year-to-date rise with cumulative open interest in Ethereum futures surging to an ATH as well
Ethereum Shows 91% Rise Year-to-Date After Surging to New All-Time High: Analyst
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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 2021even 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.

ETH
Image via Twitter

Related
Ethereum Tops $1,400 Almost Breaking Beyond 2018 All-Time High

ETH 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.

ETH
Image via Glassnode

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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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.