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Saturday, October 16, 2021

The Price Of Ether, Second-Largest Cryptocurrency Hits Two-Week High!

On Sunday, the price of Ether, the second-biggest cryptocurrency in terms of market capitalization, peaked at over $2,350. Since 18th June, this is the highest reading of the second-biggest cryptocurrency of the world, Ether. The appetite of the investors for ETH is being fueled by the anticipation of important protocol upgrades and the price stability of Bitcoin. The expiry of the options of Ether, of around $230M has managed to shift the sentiment of the market towards the bulls. But this is all a temporary development for the cryptocurrency market. The investors are still cautiously optimistic regarding the firm bottom of Bitcoin and the hard fork of London.

Price Update Regarding Ether!

On Sunday, the price of ETH rose over 6.5 percentage points to $2,370. According to news from Cointelegraph Market, it is the highest price of ETH in 2 weeks. The trade volumes across the weekend remained low and stood at just above $18 bn. The total market cap of ETH stands at $274.8 bn. On Sunday, a total of 9 percent cumulative gains were witnessed by the Defi market. The Defi market is full of Etherium and its products! 

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The Defi coins and their total market cap stood at $67.3 bn. This is according to the data provided by the CoinGecko firm. Meanwhile, the price of Bitcoin has managed to cross $35,600 while gaining by 2.6 percent. The clash between the bears and bulls was on full display in the market of options last month. On Friday, both these camps were anticipating extreme fluctuations in the price of Ether specifically into the options market! Also, the cryptocurrency market seems a little bit off, thanks to the looming of the hard fork of London. Many investors seem upset!

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