CME Announced Micro ETH Futures, Price Of ETH Hits New ATH

CME Announced Micro ETH Futures, Price Of ETH Hits New ATH

Moments after CME announced micro ETH futures, the price of the asset surged to a new all-time high above $4600 as we can see in our latest Ethereum news today.

Ethereum prices soared to a new high during the Wednesday morning Asian trading sessions after CME announced micro ETH futures launch. ETH hit a new all-time high of $4635 accoridng to CoinGecko. The world’s biggest smart contract network built its weekly momentum to hit a new peak and reach a 6% gain on the day. In the past week, ETH added another 10% and it is up by 34% over the past month. The price of ETH cooled off since and it is now trading around $4500. PrimeXBT partner Byzantine General commented that tehre will not be many tokens that can outperform ETH over the next few months:

“$ETH making new all-time highs while funding rates are low, meanwhile the rest of the market has very high rates.

I think the most important question right now is “what’s going to outperform ETH next couple of months?”.

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

— ₿yzantinΞ General (@ByzGeneral) November 3, 2021”

ETH daily chart
ETH 24-hour Price Chart (Source: Coingecko)

The analyst thinks that Bitcoin could reach a new high as well and will drain the liquidity from the rest of the market as it occurred in the previous market cycles. The momentum is now with Etheruem however as many new participants are getting onboarded with Defi and NFTs. He added that there are two ways that the market can pump either BTC or ETH will drag it along:

“Right now it’s basically a tech (ETH) versus money (BTC) argument. I’m not saying tech is worth more, I’m just saying the market values the tech more at this point in time.”

Ethereum reserves on exchanges dropped a little more than BTC and this only suggests that the investors are holding ETH and are using it to generate the yields in Defi. There were other arguments as well to his sentiment with many saying that the rival Blockchain tokens like AVAX, dOT, and SOL will soon outperform ETH. As the recent data shows, the Ethereum network settled a record $536 billion during Q3 in 2021.

CME launched ETH, futures, ethereum, bitcoin, btc,

Ethereum’s monetary model is also going to keep the prices rising since in the past week we saw the Etheruem issuance being deflationary because more has been burnt by the EIP-1559 than it has been mined. According to Ultrasound.Money, the fee-burning tracker, more than 741,000 ETH has been destroyed since August which is equivalent to $3.4 billion.

  • Bitcoin
  • Ethereum
  • Tether
  • Cardano
  • Polkadot
  • Binance coin
  • Dogecoin
Scan to Donate Bitcoin to 194astnfvj2nr6izGJFwG9ebRqNU7ynQYY

Donate Bitcoin to this address

Scan the QR code or copy the address below into your wallet to send some Bitcoin

Scan to Donate Ethereum to 0xe5853a1d08b3ea0bb69276b0e40cdf858968d822

Donate Ethereum to this address

Scan the QR code or copy the address below into your wallet to send some Ethereum

Scan to Donate Tether to 0xe5853a1d08b3ea0bb69276b0e40cdf858968d822

Donate Tether to this address

Scan the QR code or copy the address below into your wallet to send some Tether

Scan to Donate Cardano to DdzFFzCqrhsu1xWeeGai3gbgsbrFP26zPaVrCJqqF286carQJmAkTitRQSUCLhYLpKCotroRRNpKj7YcnAJQqpSfsHHdj8nUaitPvH4j

Donate Cardano to this address

Scan the QR code or copy the address below into your wallet to send some Cardano

Scan to Donate Polkadot to 155rGKVEanCxpi5EqGh8yh1AkGpm6bVUa7RQNydA38KzbhNu

Donate Polkadot to this address

Scan the QR code or copy the address below into your wallet to send some Polkadot

Scan to Donate Binance coin to bnb136ns6lfw4zs5hg4n85vdthaad7hq5m4gtkgf23

Donate Binance coin to this address

Scan the QR code or copy the address below into your wallet to send some Binance coin

Tag/Note:- 105346725
Scan to Donate Dogecoin to DKN9sscVgSBVyG7f9PYJq2D3BhWK5ffUmK

Donate Dogecoin to this address

Scan the QR code or copy the address below into your wallet to send some Dogecoin


Credit: Source Link

Comments are closed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy
WP Twitter Auto Publish Powered By : XYZScripts.com