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Ethereum hits new all time high above $1,500

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On 2 February, Ethereum reached a new all-time high above $1,500, across major exchanges,  just days before the launch of the CME Ethereum futures contracts, which is slated for 8 February. The surge in price could have been a result of several positive announcements about the second-largest crypto by market cap. 

Source: TradingView

Recently, asset manager Grayscale reopened its Ethereum trust to institutional investors, after ceasing the support in late December. Meanwhile, Mike Novogratz from Galaxy Digital seemed to think that 2021 would see much price action in Ether markets and could probably acquire some institutional investors as well. Galaxy Digital said it would soon launch a suite of Ethereum-focused funds, which will be out in mid-February.

With regard to Ethereum 2.0, Glassnode pointed out on Twitter earlier today that the total value in the ETH 2.0 Deposit Contract reached an ATH. 

At press time, Ethereum was trading at $1,507 and has been up by roughly 1% in the last hour and about 13% in the 24-hour timeframe. 

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Alisha is a full-time journalist at AMBCrypto. Her interests lie in blockchain technology, crypto-crimes, and market developments in Africa and the United States