Ether Sets a New All-Time High of Over $3480

by in Cryptocurrency News

Ether $3480

Ethereum keeps surging. The price of the token surpassed $3480.

Related: The growth of ether has enriched Vitalik Buterin

Its market dominance index is 17.5% currently.

The demand for the token is pretty high. On April 27 the European Investment Bank in cooperation with Goldman Sachs, Santander, and Societe Generale launched a digital bond on a public blockchain using Ethereum. Ether's market cap surged over $402.3 billion.

Along with this, liquidations of short positions reached new records.

Data shows that during the previous day, that amount on all derivatives exchanges went past $375 M.

Long and short positions are terms that describe traders' views towards further price developments and therefore their trading strategies. In a long position, the person expects that the price will go up. So, he or she "goes long" which means acquiring the asset. The short position describes the opposite. It's when a trader "goes short" selling the cryptocurrency. It is possible to go long or short on crypto without physically buying or selling it. The process can be managed through derivatives exchanges.