Ethereum, the second-largest cryptocurrency market cap, exceeds 1.1 million won and is running unstoppable towards the highest ever.
According to CoinMarketCap, a global cryptocurrency information site, on the morning of the 4th, the price of one Ethereum (ETH) recorded $960 (about 1.1 million won).
This is an increase of 24% compared to 24 hours and more than 40% compared to a week ago. Ethereum has been on the rise since the middle of last year, and the rise has sharpened at the end of the year. The price of Ethereum rose 5.7 times from 140,000 won (130 dollars) in January last year to 800,000 won in December.
This is the first time since February 2018, when the cryptocurrency craze broke out, that Ethereum price has recovered in the $900 range. Breaking the $900 mark, the record-high price was also approaching. Based on the global average price, Ethereum’s all-time high is $1,440, recorded on February 14, 2018.
The rise in Ethereum price can be interpreted as being driven by the possibility of institutional investors entering the market. The Chicago Futures Exchange (CME) is expected to list Ethereum futures products soon, and this is raising expectations that institutional investors will enter the Ethereum investment market beyond Bitcoin.
Related Articles
Vitalik Buterin “Ethereum will change completely in 2 years”
Hashed Kim Seo-joon “Bitcoin continues to rise… challenging 100 million won this year”
Bitcoin has established itself as an alternative investment asset…Blockchain industry continues to stagnate
Bitcoin breaks 30 million won… will it continue to rise?
Recently, Seo-joon Kim, CEO of Hashed, a specialized blockchain investment firm, predicted through a blog that “Ethereum will break the highest price this year.”
He said that this year “will be the time for institutional investors to enter Ethereum following Bitcoin.” We are aware of Ethereum as an infrastructure that will improve the overall system.”