Ethereun

Ethereum News! Ether was up 11% to a price of more than $ 1,700 on Friday, according to data from CoinDesk.

Investors expect the launch of CME ether futures contracts next week.

The Ethereum network is also undergoing a major update called Ethereum 2.0. LONDON The cryptocurrency ether hit a new all-time high on Friday, topping $ 1,700 for the first time.

Ether, which is the world's second-largest digital currency by market value, rose 11.2% to a price of around $ 1,743 according to data from CoinDesk, coming after Bitcoin, the most valuable virtual currency, reached a record high. close to $ 42,000 last month.

The price of Bitcoin more than quadrupled over the course of 2020, and has risen 29% since early 2021. Ether has risen approximately 129% to date.

Ether has risen steadily this week as investors await the highly anticipated launch of ether futures contracts from the Chicago Mercantile Exchange next week. Ether futures trading will begin on Monday. The CME launched bitcoin futures more than three years ago, on top of the cryptocurrency's 2017 rally.

Some investors believe that futures and other crypto-focused derivatives will give institutional investors more confidence to invest in the space.

"Bringing in more financial instruments will bring more participants to the market," said Sachin Patodia, a partner at Avon Ventures, a venture capital fund affiliated with Fidelity's parent company. "That is probably positive for the price of ether."

But Patodia said that a big driver for the price of ether, and other smaller digital currencies, was bitcoin's boost in recent months.

?greetings my crypto miners!