Ether rate rose to a maximum since spring 2018

by in Cryptocurrency News

Ethereum

The largest altcoin ether (ETH) is updating highs along with bitcoin. ETH soared in value this week to its highest level since spring 2018.

On Friday, December 18, the altcoin went up to $ 647. Over the past 24 hours, ETH's capitalization has grown to $ 73.61 billion. Black Thursday, March 12, was a shock event for ether holders. On this day, the cryptocurrency crashed to $ 123.

However, this mark became a "bottom" for ETH, after which the ascent resumed. Ultimately, the winners were those ether holders who initially bet on long-term storage of the cryptocurrency.

The IntoTheBlock team draws attention to the surge in activity not only of bitcoin holders but also of those players who prefer to keep funds in ETH.

Trending: El Salvador bought an additional 80 BTC amid a drawdown in the course

According to analysts, now the number of Ethereum addresses with a non-zero balance exceeds 50 million. That is a record figure, indicating the growing investor confidence in the altcoin.

One of the drivers of strengthening the ETH rate was the information about the intention of the Chicago Exchange (CME) to launch Ethereum futures. The new product will be offered to investors on February 8 next year.

Many observers predict that altcoin will continue to rise in value after the launch of ETH futures.