Sunday, February 28, 2021

Ethereum (ETH) Breaks above $1,800 First Time in History

Ethereum (ETH), the second-largest digital currency by market cap, has managed to record another all-time high on the Binance exchange. This time, the leading cryptocurrency soared above the $1.800 resistance level.

At the time of filing this report, ETH is trading at $1,810, with about a 10% price upsurge in the last 24 hours.

Read Also: Gemini’s Tyler Winklevoss Says ‘When in Doubt, Ethereum” As ETH Is Now 9% Away from ATH

Ethereum (ETH) Breaks above $1,800 First Time in History
Courtesy of TradingView

Obviously, the meteoric rise in price has been driven by the launch of Ethereum Futures on CME on 8th February. On the first day of trading Ethereum Futures, 388 contracts were reportedly traded.

On the other hand, Bitcoin (BTC), the largest cryptocurrency by market capitalization, has also earlier today recorded new all-time highs around $48,000.

This BTC peak was clearly initiated by the news of Tesla adding a whopping $1.5 billion worth of Bitcoin to its balance sheet and also allowing payments in BTC.

Read Also: Elon Musk Says Bitcoin (BTC) Is On the Verge of Broad Acceptance

These positive trends are expected to persist for the next couple of months, according to a number of crypto analysts and traders.

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Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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