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.
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!