According to Trustnode on the 3rd (local time), Ethereum rose close to 10% during the day, surpassing $1,600 for the first time in history, and trading volume also surged.
Ethereum’s market capitalization exceeded $180 billion on the back of its recent strength, and the stock value of assets deposited in the decentralized financial (De-Fi) market also exceeded $57 billion.
The market believes that the strength of Ethereum is due to expectations for the release of Ethereum futures scheduled at the Chicago Merchandise Exchange (CME) on the 8th of this month.
In addition, interest in the smart contract and DeFi market continues to increase, and the continued increase in Ethereum inflow by new investors is also analyzed as a major factor driving the uptrend.
Along with Ethereum, Bitcoin also rose more than 10% during the intraday, exceeding $37,000, and its market capitalization is approaching $700 billion.
According to Trustnode, the price of bitcoin has risen by about 20% over a week as institutional investors have recently increased their interest in bitcoin as digital gold.
In particular, Michael Sailor, CEO of Micro Strategy, plans to hold a bitcoin conference explaining the performance of bitcoin investments so far, attracting considerable attention from institutions.
Based on CoinMarket Cap data, Bitcoin rose 5.7% to $37,010 as of 12:50 pm New York Time, while Ethereum rose 9.2% to $1621.