The second biggest cryptocurrency has been doing exceptionally well this year, rising well higher than Bitcoin in percentage.
Cryptocurrency department of the global analytics agency Weiss Ratings expects that large institutional investors and corporations will soon switch onto Ethereum from Bitcoin and begin to adopt it.
Weiss Crypto believes in ETH’s bright future
On February 8, CME Group launched Ethereum futures for financial institutions, which was another trigger for ETH price growth after the rollout of ETH 2.0 zero phase in December.
Weiss Crypto has made a reminder that after the launch of ETH futures on CME, open interest and daily volume have been seeing a stable surge.
The agency expects that financial institutions and corporations will increase their interest in ETH in the near future and that they have likely started that new phase of Ethereum adoption.
Besides, Weiss Crypto has cited JP Morgan analysts who expect Ethereum to keep outperforming Bitcoin, agreeing with the banking giant on this, using it as an another argument to support their bet on institutions going deeper into ETH.
JPMorgan has stated that #Ethereum is outperforming #Bitcoin and it expects that trend to continue. We definitely agree with JPM on this one- it further goes to show our belief that $ETH will be the next target of institutions and corporations. In retrospect, it was inevitable."
Ethereum tops $2,800 all-time high
Earlier today, the second largest cryptocurrency surged to a new historic peak of $2,800 for the first time.
This has been the third all-time high for Ethereum this week. At the time of writing, ETH is changing hands at $2,787, as per CoinMarketCap.
Alex Dovbnya
Godfrey Benjamin
Denys Serhiichuk