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Ethereum’s Ether Cryptocurrency Sets New All-Time Price High Above $1,450
Ether has outpaced bitcoin on a year-to-date basis.
Updated Sep 14, 2021, 11:00 a.m. Published Jan 25, 2021, 12:39 a.m. 1 min read
The price of ether (ETH), the native cryptocurrency of the Ethereum blockchain network, soared to record levels on Sunday.
- Prices hit $1,454.32 – topping the previous all-time high of $1,439.33 set only last week – before settling back to $1,447.77, up more than 17% in the last 24 hours.
- While ETH has trailed its larger cryptocurrency sibling, bitcoin , in its journey to new lifetime highs, it has outpaced the top cryptocurrency on a year-to-date basis with an 88% increase. BTC has risen 10.98% so far this year.
Read more: Ethereum 2.0 Beacon Chain Goes Live as ‘World Computer’ Begins Long-Awaited Overhaul
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NYDIG, meanwhile, rejected the basis-trade theory, citing the large discount and the lack of an unusual spike in corresponding CME bitcoin futures volume.
What to know:
- A $1.26 billion block sale of BlackRock’s IBIT shares was likely a rapid exit by a large investor, not an arbitrage unwind, according to NYDIG.
- The seller of the $1.26 billion IBIT block accepted a 2.3% discount ($29.5 million loss), signaling a priority on speed and certainty over maximizing price.
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