TL;DR Breakdown
- Ethereum breaks $1500 mark to set new all-time high.
- The month is packed with notable events that could further push the price of the asset higher.
Ethereum has broken the $1,500 mark to post a new all-time high. Available indicators show that the value of the asset could keep rising especially as the current month is laced with different events that could further propel its price upwards.
Ethereum could go higher this month
Ethereum could possibly go higher this month considering the number of notable events which could push its value higher. These events are being pushed by institutional investors who have also now taken interest in the crypto asset.
One such event is the launch of Ether Futures contract by CME Global. The company currently is the biggest Bitcoin Futures exchange in the world and it is looking to drive more institutional investors to Ethereum. The firm also cited the increasing number of institutional investors who are beginning to take positions in the ecosystem as why it is also investing in it.
Another one is Grayscale’s investment opening of its Ethereum Trust for private placement of its shares to institutional investors. The investment company has been looking to diversify its holdings to provide additional options for their institutional investors.
Other notable events include Galaxy Digital’s intention of launching several Ethereum-focused funds and Consensys webinar on ETH 2.0 which could open up the platform to more institutional investors.
Over $4 billion locked in ETH 2.0
Apart from the second-largest crypto asset by market cap setting a new all-time high, ETH 2.0 has also witnessed over $4 billion locked in its deposit contract which is a record high in terms of value locked. Glassnode, a crypto analytics firm, pointed out this milestone to the public through one of its recent tweets.
DappRadar provides a clearer picture of this figure as it states that over 2 million Ether tokens have been staked on the deposit contract.
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Kamsi King
King Kamsi is a fintech and digital currency writer and enthusiast. He is keenly interested in blockchain and cryptocurrency and their global adoption. When not busy with writing, he can be found hobnobbing in forums with the best minds in crypto, both developers and startup founders.
