Skip to main content

Ether hits yearly highs as Bitcoin tops $22K

NewsColony
Ether hits yearly highs as Bitcoin tops $22K

While Bitcoin continues to push into new all-time highs, Ether has also tagged new year-to-date highs following news the Chicago Mercantile Exchange plans to launch ETH futures contracts in 2021.

BTC spiked into new highs on Dec. 16, gaining 10% in one day from $19,140 to $21,340. Dec. 17 has seen BTC extend the rally by a further 4% so far — with the market currently searching for support near $21,800 after posting a local top of $22,160.

While many traders appear to be glued to the Bitcoin charts, Ethereum also pushed into new yearly highs after gaining 8.5% yesterday. Today the price increased to a local top of $656, with the markets currently hovering half a percent above yesterday’s closing price of $640.

The rally followed news that CME intends to launch ETH futures in 2021 pending regulatory approval. It cited strong customer demand for the product.

CME launched its Bitcoin futures contracts in December 2017, which signaled the top of that year’s historic rally.

Some predict even greater moves upwards for ETH to come. Twitter user ‘Altcoin Sherpa’ noted that ETH has begun multi-month rallies in December that saw gains of at least 100% for each of the past three years. As such, the analyst predicts Ether will soon surpass $1,000 for the first time since 2017.

Ethereum perma-bull ‘wolfofethereum.eth’ speculated that “the $ETH show is just getting started,” highlighting that Ether has outperformed BTC by 185% over the past 12 months.

Set Protocol’s Anthony Sassano posted an image comparing the metrics for Ethereum when it last broke $500 and the situation today — noting a 900% increase in active developers, an 80% increase in 24-hour transaction count, a 60% increase in active addresses, and a 150% increase in network hash rate.

ETH/BTC shorts on Bitfinex are currently sitting at record lows, suggesting the markets expect Ether to make gains over BTC for the foreseeable future. ETH/BTC longs are at their highest level since February 2018.

Weekly ETH/BTC shorts on Bitfinex: TradingView

Source: Cointelegraph News Colony | Business News

The post Ether hits yearly highs as Bitcoin tops $22K appeared first on NewsColony.
NewsColony



source https://newscolony.com/ether-hits-yearly-highs-as-bitcoin-tops-22k/

Comments

Post a Comment

Popular posts from this blog

What you should do if you have coronavirus

NewsColony What you should do if you have coronavirus Click to expand Replay Video UP NEXT Watch a COVID-19 Lab Test Watch a COVID-19 Lab Test Redding Record Searchlight Redding’s first cannabis store, Synergy, opens for business Redding’s first cannabis store, Synergy, opens for business Redding Record Searchlight Five tips to be a rock painter Five tips to be a rock painter Redding Record Searchlight SETTINGS OFF HD HQ SD LO Skip Ad UP NEXT You wake up with a dry cough or headache. It could be the common cold or allergies, or it could be the coronavirus.  So, what should you do next?  The Centers for Disease Control and Prevention and other public health experts recommend taking the following steps if you’re feeling sick and think you may have COVID-19.  Start the day smarter. Get all the news you need in your inbox each morning. Do an inventory of symptoms:  Dry...
Post a Comment
Read more

China’s military is world’s first to use experimental virus vaccine

NewsColony China’s military is world’s first to use experimental virus vaccine © AFP An experimental coronavirus vaccine has been approved for use by the Chinese military – a first for the armed forces of any country. Photo: AFP China has approved military use of an experimental coronavirus vaccine developed by the People’s Liberation Army and a Chinese pharmaceutical company, in a first for the armed forces of any country. The vaccine, identified as Ad5-nCoV, was jointly developed by a team at the Academy of Military Medical Sciences, led by Major General Chen Wei, and Tianjin-based company CanSino Biologics . It is the first time that a vaccine candidate for Covid-19, the disease caused by the coronavirus, has been authorised for use for the military of any nation. CanSino said on Monday that the candidate had been through two phases of clinical trials, which indicated it was safe and there was “relatively high” immune response to the antigen. The candidate is yet to start ...
Post a Comment
Read more

Coronavirus Live Updates: Online Retailers Plan Campaign to Rescue Postal Service

NewsColony Coronavirus Live Updates: Online Retailers Plan Campaign to Rescue Postal Service Here’s what you need to know: Image A United States Postal Service employee making deliveries in the Bronx last month. Credit… Desiree Rios for The New York Times Online retailers, including Amazon, want Congress to save the Postal Service. A coalition of online retailers backed by Amazon plans to start on Wednesday a seven-figure advertising blitz opposing President Trump’s demand that the beleaguered United States Postal Service ratchet up its package delivery rates to avoid bankruptcy during the coronavirus crisis, its top lobbyist said. The ads will begin running nationally Wednesday night on “Hannity,” one of Mr. Trump’s favorite programs on Fox News, and on Rush Limbaugh’s radio show on Thursday. They do not mention the president but label his proposal to raise delivery prices “a massive package tax” on small businesses and Americans who rely on the mail for pre...
Post a Comment
Read more