Heather broke record: broke the 1,700 D threshold – digital currencies

After Bitcoin did so about a month ago, now it’s Heather’s turn to break a historic record: the cryptocurrency broke the $ 1,700 threshold and earlier even traded at $ 1,740 levels.

Bitcoin, the big brother with the big shadow cast on Ether, has quadrupled in value during 2020. Since the beginning of the year, it has added another 30%, but the rise of Ether is higher during this period – 129%.

The currency has risen steadily over the past week, while investors are eagerly awaiting the launch of its futures on the Chicago Stock Exchange this coming Monday. Bitcoin contracts were already launched on the stock exchange about three years ago, during the heyday of the leading crypto currency.

Some investors believe that futures and other derivatives on cryptocurrencies will lead to the recognition of the institutional entities in these assets, and consequently to increasing investments in the field. “If more financial tools are provided in the crypto field, it will lead to more participants in this market,” said Sachin Ptodia, a partner in Avon’s affiliate Avon Investment Fund. “It’s probably a positive thing for ether prices, too.”

“This move by the Chicago Board of Trade may lead to currency purchases by new entrants, as it allows sophisticated investors to hedge their risk against positions they may hold,” Simon Peters, crypto analyst at Israeli e-Toro, which developed a trading platform, told CNBC Digital in the capital market.

On the other hand, Patodia admitted that a significant catalyst for the rise in ether prices is what we have seen in Bitcoin: “We have seen this pattern in all sorts of cycles in the crypto market in the past – Bitcoin is leveling first, and after it rises you can see “.

Crypto investors have raised another option for the cause of Ether’s additions, apart from the launch of futures contracts, which is a close significant upgrade of Ether’s blockchain infrastructure, Etherium, to version 2.0. Those who express confidence in the currency believe that with the upgrade it will become safer and trading in it will become faster.

The total value of the crypto market was estimated at $ 1 trillion last month, following the break of bitcoin records. Bitcoin is now trading at about $ 37.8 thousand, with today rising by about one percent, and yesterday it recorded an increase of 4.6%. The XRP currency, which relies on the blockchain ripple infrastructure and is considered third in popularity after Bitcoin and Ether, is trading at about $ 0.44 with an increase of about 2% today and about 10% yesterday.