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Ether Sets a New All-Time High Above $4,600, Could Move Above $5,000 Soon

Ether has set a new all-time high for the third time in the past month and could look to reach the $5,000 mark over the coming days or weeks.

ETH Sets a New All-Time High at $4,634

Ether, the second-largest cryptocurrency by market cap and the native coin of the Ethereum network, reached a new all-time high earlier today. The cryptocurrency rallied to a new all-time high above $4,600 and could be set to surge higher in the coming days

ETH’s new all-time high stands at $4,634 as it rallied by more than 6% over the past 24 hours. At the time of writing, ETH is trading at $4,559 per coin, up by 4.2% over the past few hours. The cryptocurrency is down by 1.6% from its recent all-time high.

With the cryptocurrency market currently in a bullish zone, Ether could look to break past the $5,000 level for the first time in its six-year history in the coming days. However, Ether would need the support of the broader cryptocurrency, with Bitcoin, Binance Coin, Solana, Cardano and other leading cryptocurrencies all rallying at the moment.

The short and medium-term outlook for Ether remains positive as analysts and market participants expect it to go higher over the coming months. Year-to-date, ETH’s value has increased by 519%, making it one of the top performers amongst the leading cryptocurrencies. From this time last year, Ether’s price has increased by over 1,000%.

ETH/USD 4-hour chart. Source: FXEMPIRE
ETH/USD 4-hour chart. Source: FXEMPIRE

CME to Launch Micro Ether Futures by Next Month

The Chicago Mercantile Exchange (CME) announced yesterday that it would expand its cryptocurrency derivative offerings by launching Micro Ether futures on December 6, pending regulatory review.

The Ether futures would allow institutional investors and individual traders to hedge their spot ether price risk or execute ether trading strategies. CME is one of the leading cryptocurrency derivative trading service providers, and it is now expanding its presence within the space.

This article was originally posted on FX Empire