Ethereum has pulled in a new all-time high of $1,775 on the Binance exchange. The second-largest digital asset attained its new milestone at 4:09 p.m. UTC, amid news on Tesla’s Bitcoin acquisition, which also pushed Bitcoin to a new record high.
On the 8th of February, the two top cryptocurrencies recorded new highs, accounting for 75% of the total crypto market share of $1.3 trillion.
Bitcoin, which formerly held about 60% of the market share, gained 3% earlier today to 63.73%. Shortly after, this dropped to 63%.
The Chicago Mercantile Exchange (CME) has also launched the first regulated Ethereum futures in the US. Qiao Wang of the DeFi alliance is bullish on ETH. In a Twitter thread, he predicted that Ether would climb up between $5k and $20k. He further advised traders to hold, optimistic that ETH will not plunge in the next three years following the CME Ethereum futures launch.
“And LOL @ those who think CME futures will bring ETH into a 3-year bear market, This will be the worst trade of life.”
On the other hand, global strategist with JPMorgan Chase & Co, Nikolaos Panigirtzoglou said that CME’s Ether futures launch may lead to “negative price dynamics.”
At press time, ETH is up 8.19% to $1,687.11. With a market cap of almost $194 billion, ETH has gained 14.17% to nearly $44 billion in its 24-hour trading volume.
Image Credits: Pixabay
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