The world’s utility crypto, Ether traded above $1,000 for the first time since 2018, hours after smashing past $800 for the first time since March 2020.
What you should know; At the time of writing, Ethereum price traded at $1,050.73 with a daily trading volume of $64.7 billion. Ethereum is up 31.63% for the day with a market value estimated to be $120 billion.
Ether trading volumes on leading exchanges tracked by Nairametrics have been substantially higher over the previous month. about two days ago the one-week average of total volume for ether trades on those crypto exchanges was $3.3 billion.
It’s vital to note the increased buying pressure in Ether is on a record high since it has caught the eye of high net worth individuals.
- Ether’s love among institutional investors is based on its high utility fundamentals. First, the DeFi, the industry is the hottest and the most trendy thing in the crypto-verse in 2020.
- Ethereum blockchain also maintains the leadership status as almost all DeFi projects are based on Ethereum blockchain.
- Just recently it upgraded to Ethereum 2.0, which is seen by many crypto enthusiasts as the game-changer in reforming the distributed system, after some years of research and coordinated effort by top developers around the world.
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