Ether (ETH, -0.25%) continued its rally on Thursday after the Berlin hard fork on the Ethereum blockchain went live earlier the day, surpassing $2,500 for the first time in history.
- The No. 2 cryptocurrency by market capitalization was traded around $2,498.91 at press time, just slightly down after it briefly went as high as $2,503.92.
- Ether’s price has been outperforming bitcoin (BTC, -1.71%)‘s on Thursday, as the Ethereum blockchain’s much anticipated Berlin hard fork went live early the day.
- The upgrade, which sets up the network for the much bigger London hard fork in July, incorporates four Ethereum Improvement Proposals (EIPs).
- The hype around ether is also reflected in the derivatives market, as open interest in ether’s options market rose to a record high above $3 billion on Wednesday.
- The late-day surge also could be due to news that the Rothschild Investment took at initial $4.75 million stake in the Grayscale Ethereum Trust. Grayscale is owned by CoinDesk parent company Digital Currency Group.
Recommended News
-
The Node: Beeple Sold Out. So What?
Not long after Mike Winkelmann, aka Beeple, received his $53 million in ether (ETH, +3.76%) (ETH) for selling a non-fungible token (NFT) through Christie’s (after fees), he reportedly converted the cryptocurrency into fiat. What was seen as a vote of confidence for this new technological medium – it was the third-largest art sale ever, right behind Jeff Koons’ “Rabbit” and David Hockney’s “Portrait of an Artist (Pool With Two Figures)” – might now be seen as a betrayal. He quite literally sold out. Beeple told The New Yorker on Monday, “I’m not remotely a crypto-purist. I was…
-
Deutsche Bank Says 52% of Its Investors Expect Bitcoin Below $60K in 12 Months
Deutsche Bank’s investor clients mostly see limited upside in bitcoin (BTC) this year and expect a decline towards $20,000-$40,000 in 12 months. Those are the highlights of a monthly market survey conducted by the German lender March 18-22 of 520 market professionals around the world. Bitcoin has been trading in a sideways range over the past week after failing to sustain an all-time-high around $61,000 reached earlier in the month. The 12-month BTC price forecast is more evenly distributed versus the three-month forecast, though a majority (52%) of respondents see prices under…
-
Money Reimagined: Letter to President Biden
President Biden needs to reform the global financial system and avoid a 1930s-style depression. Digital currencies can help. Welcome to this week’s Money Reimagined, coming to you two days into a new U.S. presidency. Already, with various executive orders and a host of cabinet and agency nominee names emerging, President Joe Biden has fostered the palpable sense of a slate being cleaned. As for what it means for crypto, the turnover in the White House gave Sheila Warren and me reason to invite Kristin Smith of the Blockchain Association and…
-
Crypto Must Apply Safety Lessons of the Existing Financial System
There is a revealing, albeit slightly morbid, maxim that “safety standards are written in blood.” Humans and human-created systems generally tend to be reactive rather than proactive when it comes to developing protective rules. Nevertheless, today’s construction workers and consumers are more shielded from danger than those of the past because we’ve learned from prior mistakes. Rick McDonell was the executive secretary of the Financial Action Task Force from 2007 until 2016. Prior to that, he was chief of the United Nations Global Program against Money Laundering at the UNODC. He…
-
Bitfury’s Deep Ploughing on Blockchain Mining · Coinbasis Plan Launched
Australian Bitcoin mining hardware giant Bitfury is set to expand its industry into distributed storage. FlashFX, AgriDigital and Othera will also jointly deploy the distributed storage ecological field, create the establishment and trading of distributed storage financial derivatives, and create super servers with the world’s top three server manufacturers. With the massive growth of global data. Privacy security and access speed have become the most critical issues in data storage. Bitfury and his partners plan to develop a decentralized distributed storage, data sharding and data encryption platform without downtime. Through…
-
Wan Wu Chao Sheng and Artist Chunren Jointly issue NFT Digital Art, Helping the Creator Economy
My artistic view is that my creation must spread “truth, goodness and beauty”. I want it to be full of “innocence” and “empathy” because those bring people heartfelt fulfillment. –Famous artist Chunren The Internet, which was born in 1969, has been changing the world around us, and has opened up a new era of creator economy. Everyone can become a creator and upload their own content through the Internet. In the past two decades, the Internet has maintained rapid development, and Web2 content platforms such as Facebook, Youtube, and Instagram…
-
Carbon Pathfinder KAU is available for global subscription, come and participate!
In order to improve the quality of global environmental protection, drive the combination of blockchain technology + environmental protection, and establish a unified global carbon policy and carbon market, the Ministry of Environmental Protection of South Korea and the International Environmental Protection Organization (WWF), Singapore, the United States, Australia, France, etc. jointly initiated the establishment The main body of carbon emission operation, launched the carbon pather KAU, a global ecological civilization construction system that uses blockchain technology to solve the pain points of the current environmental protection and health industry….
-
Will islandswap lead the future of gamefi on OEC?
With the rise of the metaverse concept, GameFi has become the most popular topic in the crypto circle. With more and more players and a continuous influx of capital, each token in blockchain games is also rising and constantly breaking the highest record. A large number of mainstream public chains, including OEC and Solana, have emerged in the market, providing more choices and a better environment for blockchain games. At present, several good GameFi&metaverse blockchain games have been planned to be on OEC, from Crypto Gladiator to Celestial, and then to…
-
Digital Currency Group to Buy Up to $250M of Grayscale Bitcoin Trust Shares
Digital Currency Group, the parent of Grayscale, said it’s authorized the purchase of up to $250 million worth of the lagging shares of the Grayscale Bitcoin Trust (OTCQX: GBTC), its subsidiary’s flagship product. In an announcement Wednesday, DCG – which is also the parent company of CoinDesk – said it will be buying GBTC shares on the open market. The purchase comes as the price of GBTC shares has fallen from an all-time high of $58.22 set last month to $41.40 last week before rebounding somewhat. In addition, the shares, which had…
-
$1B Fei Stablecoin’s Rocky Start Is a Wake-Up Call for DeFi Investors
The $1 billion Fei Protocol stablecoin project has gotten off to a very rocky start. The most important data point is this: Fei was built to maintain a 1:1 peg with the U.S. dollar but it has not quite hit the mark over this first week of its existence. Backed by major VCs, Fei aimed to create a stablecoin protocol that would outright buy assets with its token, rather than holding them as collateral for loans. It appears the team underestimated the demand it would see to participate in the launch. It…
