Cryptocurrency Ethereum hits record high ahead of CME futures launch
LONDON (Reuters) – Ethereum hit all-time highs on Wednesday, breaking above $1,500, as retailers bought the cryptocurrency ahead of the launch of ethereum futures on the Chicago Mercantile Exchange subsequent week
Ethereum has seen year-to-date options of spherical 120%, in distinction with bitcoin’s 30%, and hit a model new high of $1,576.7 in early London shopping for and promoting on Wednesday.
“The itemizing of ethereum futures on a regulated commerce should serve to spice up the crypto market development by allowing patrons to realize publicity to the second most important cryptocurrency as a diversifier to bitcoin, or for merely hedging current ethereum exposures,” wrote JPMorgan strategists in a discover to purchasers.
“It is also that this week’s itemizing of ethereum futures contracts could be adopted by unfavourable worth dynamics by enabling some holders of bodily ethereum to hedge their exposures,” they added.
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