Ethereum makes headlines again following this new milestone that the project just hit.
Record Ethereum daily trading volumes at CME, open interest above $500m. pic.twitter.com/9cvhmUQxQv
— unfolded. (@cryptounfolded) May 11, 2021
Regarding the price of Ethereum, at the moment of writing this article, ETH is trading in the red, and the digital asset is priced at $3,951.02.
The coin has been hitting ATH after ATH these days.
ETH smashes through $4k
Ethereum smashed through $4,000 the other day. Bitstamp posted the following tweet.
— Bitstamp (@Bitstamp) May 10, 2021
As CNBC notes, ETH rose nearly 7% over the last 24 hours to $4,141.99 by 3:40 a.m. ET, according to Coin Metrics. It now has a total market value of $476.3 billion, less than half bitcoin’s $1.1 trillion.
“Once in bitcoin’s shadow, ether has seen parabolic gains recently as investors look to other cryptocurrencies for returns. Bitcoin fell over 2% in April, while ether rose more than 40%. The entire crypto market is currently worth over $2.5 trillion, according to CoinMarketCap, on the back of growing interest in the space,” CNBC noted.
Ethereum bullish prediction
Ethereum has been making some spectacular price moves this year, and the digital asset has been hitting ATH after ATH.
Just the other day, we were revealing that ETH total open interest reaches $10 billion for the first time.
Check out the graph that Unfolded posted on their Twitter account:
Ethereum total open interest hits $10bn for the first time. pic.twitter.com/5AkfcWMxGj
— unfolded. (@cryptounfolded) May 7, 2021
Stay tuned for more news about ETH these days, and make sure to keep your eyes on the crypto market.