Ethereum Went up to $1800 Due to Institutional Investments

by in Cryptocurrency News

Ethereum above $1800

The price of the Ethereum blockchain's native token hit a new all-time of $1800 today. Currently, Eth trades at around $1770.

Related: BTC Price Surged $48.000 After Tesla's Purchase

Earlier BTC soared to $48.000. These two coins own 75% of the entire crypto market which is over $1.3 trillion

80% of the last week's crypto inflows belonged to Etherum. The amount of the investments in this token reached $195 M, while the total sum was $245 M.

Major investors have been attracted to Ether since the beginning of 2021. In January, the world's largest asset management firm Grayscale reopened its Ethereum Trust. During the previous week, the company acquired 108,546 ETH thus making its total value reached $5.19 billion.

On February 8, the global derivatives marketplace Chicago Mercantile Exchange (CME) Group launched Ethereum futures contracts. These are cash-settled futures, based on the Ether-USD reference rate. Each contract includes 50 Ether, and traders need to purchase at least 5 of them.