Ether Trades Above $900 for First Time Since 2018, Hours After Crossing $800

Kevin Reynolds

Taking a page out of larger sibling bitcoin’s book, the price of ether (ETH) on Sunday traded above $900 for the first time since February 2018, hours after breaking through $800 for the first time since March the same year.

  • The native currency of the Ethereum network hit a nearly three-year high of $914.20, before settling down to $909.86, up 20.6% over the last 24 hours..

  • The second-highest cryptocurrency by market cap, the total value of ether is currently $103.8 billion.

  • Ether’s move coincides with growing institutional interest in the cryptocurrency and the upcoming launch of ETH futures on the CME on Feb. 8.

  • Also, ether is almost certainly getting a lift from the eye-popping price run of bitcoin over the last 24 hours.

  • Though not as dramatic as bitcoin’s surge, the rise in the price of ether is accelerating. After breaking $600 for the first time since May 2018 in November 2020, it broke $700 for the first time since that same month in 2018 on Dec. 27, 2020, and has now notched $800 and $900 in the same morning.

See also: More Than $1B Ether Staked on Ethereum 2.0

UPDATE (Jan. 3, 14:30 UTC): Updates that the price ether had topped $900.

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