Ethereum

CME announces Micro ETH Futures, new ATH rising ETH price

Shortly after CME announced the micro ETH futures contract, the asset’s price soared to an all-time high of over $ 4,600 as we can see on our latest Ethereum news today.

Ethereum price soared to new highs during Wednesday morning’s Asian session after CME announced the launch of micro-ETH futures.

For CoinGecko, ETH reaches a new all-time high of a cumulative $ 4635. The world’s largest smart contract network has built weekly momentum to hit new highs, gaining 6% that day. In the past week, ETH is up 10% and in the last month it is up 34%. ETH price has cooled since then and is currently trading around $ 4,500. PrimeXBT partner Byzantine General commented that there won’t be many tokens that can outperform ETH in the next few months:

“$ ETH hits a new all-time high while funding rates are low while the rest of the market has very high rates.

I think the most important question right now is: “What will ETH outperform in the next few months?”.

And the answer is likely: “not much”. pic.twitter.com/CAQCrunEwI

– yzantinΞ General (@ByzGeneral) November 3, 2021 ”

The analyst believes that Bitcoin could also hit new highs and drain liquidity from the rest of the market as it has done in previous market cycles. At the moment, however, Etheruem is gaining momentum as many new participants join Defi and NFT. He added that there are two ways the market could pump BTC or ETH into tow:

“Right now it’s basically a controversy between technology (ETH) and money (BTC). I’m not saying technology is worth more, I’m just saying that the market now values ​​technology more. “

The Ethereum reserves on the exchanges have fallen a little more than BTC, and this only shows that investors are holding ETH and making profits in defi with it. There are other arguments as well as his feelings as many say competing blockchain tokens like AVAX, dOT and SOL will soon outperform ETH. As recent data shows, the Ethereum network hit a record $ 536 billion in the third quarter of 2021.

Ethereum’s currency model will also keep the price high as we saw Etheruem deflation last week as more EIP-1559 was burned than mined. According to Ultrasound.Money, the paid tracker, more than 741,000 ETH have been destroyed since August, equivalent to $ 3.4 billion.

DC Forecasts is a leader in many crypto news categories, always striving for the highest journalistic standards and adhering to strict editorial guidelines. If you would like to share your expertise or contribute to our news page, please contact us at [email protected]

.

.

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

The New Lead of Presidential Crypto Council Appointed by Trump Is Bo Hines

President-elect Donald Trump named Bo Hines as the executive director of the presidential crypto council.

17 seconds ago

Best New Meme Coins with 1000X Potential: BTFD Coin’s Hot BIG50 Discount As Baby Doge Coin, Dogs Takes Gaming to the Next Level

Explore the best new meme coins with 1000X potential. Learn how BTFD Coin leads with…

60 minutes ago

BlockDAG Surges Past $170M as BDAG250 Bonus End Countdown Begins – Aave Targets $400 & Solana Shines with Scalability

BlockDAG crosses $170.5M in presale success with BDAG250 bonus and Whitepaper V3 launch! Solana grows…

2 hours ago

Qubetics Presale Price Surge Approaches: The Best Coins to Invest in Right Now While Toncoin, and XRP Gain Traction

Discover why Qubetics, Toncoin, and XRP are the best coins to invest in right now.…

3 hours ago

Book of Meme Old News? This Best Meme Coin to Invest in 2024 Is Multiplying Gains Like a Champ

Over the years, meme coins have evolved from inside jokes into serious investment opportunities.

4 hours ago

Time’s Ticking on BlockDAG’s 5-Tier Bonus- Few Days Left to Grab It While Cardano Whales Take Action, Aave Rallies Strong

Discover BlockDAG's five-tier bonus program's closing phases that enhance buyer holdings. Gain insights on the…

4 hours ago

This website uses cookies.