Ethereum, in over two years, for the first time, breaks the $1,400 mark. Being the second biggest cryptocurrency project in the world, in market capitalization has finally paid off for the company. It helped set a record passing high, reaching a whopping $1439.33. Since the 13th of January back in 2018, this is the first time that ETH parent has surpassed this benchmark. 66.15 is now the year-to-daily gain for the cryptocurrency-giant.
This recorded gain is over six times that of the biggest crypto project in the world. It even managed to outperform DOT parent, Polkadot, as well as LINK parent, Chainlink. Ethereum is still one of the top performers amongst the top ten. This does not wholly come as a shock, since for the past two weeks, it had been climbing and had reached $1350. Ether’s performance may have been boosted by the fact that the De-Fi sector has been booming lately. The space holds a worth of $24 billion in the crypto-world.
How Could Ethereum Reach $2000?
The Chicago Mercantile Exchange will soon launch the Ethereum futures. This was announced back on the 26th of December. Derivatives are nothing but trading contracts. Investors are allowed betting on the prices of an asset without owning any of it. The arrival of the Ether-charged futures will essentially bring with its maturity in the market.
Ethereum Improvement Proposal proposed a project called EIP 1559. The idea behind this is to bring improvements in the way the transaction fees in the firm are shown to users. It also suggests cutting down the auction-style that is carried out currently. Ethereum Future will introduce Burning Ether. Burning in a sense, to eradicate tokens from reality.
Ethereum 2.0 could be another game-changer. Its roll-out could mean a more scalable, faster, and more efficient blockchain.
