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Futures Boost? Ether Looks Up on 11-Week High
With talk of a possible derivatives market on the way, the price of ether, ethereum's native token, looks to be on the rise.
Updated Sep 13, 2021, 7:10 a.m. Published Nov 20, 2017, 2:00 p.m.
Having clocked an eleven-day high on Sunday, the price of ether, ethereum's native token, may have more gains ahead.
As per CoinMarketCap, the cryptocurrency rose to $371.29 yesterday – its highest level since Sep. 2. Week-on-week, ETH has gained 13.22 percent, while on a monthly basis, it is up 15.08 percent. At time of writing, the ether-U.S. dollar (ETH/USD) exchange rate is at $358 levels.
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ETH seems to have pushed fears over the Parity wallet freeze on the back burner and moved higher to $350 levels in line with the bullish technicals as expected. The bid tone strengthened on Nov. 16 alongside a Bloomberg report that said the second-biggest cryptocurrency is poised to get its own derivatives market.
"Contracts on the ether digital currency will be offered by an as-yet-unnamed exchange going by the code name Virtuoso," the report said. "Virtuoso" will reportedly be regulated by the U.S. Commodity Futures Trading Commission, and plans to offer futures, non-deliverable forwards, swaps and forwards by the first or second quarter of 2018.
If the plan comes to fruition, ether derivatives will provide an avenue for yield-hungry institutional investors to invest in an asset that is up 4,000 percent on a year-to-date basis.
The price action analysis suggests ether is aiming for record highs and any dips are likely to be short-lived.
Ether chart
The above chart shows:
- A solid bullish Bollinger band breakout
- Prices closed above resistance of $350 (Oct. 16 high)
- Bullish relative strength index (RSI)
- All major averages – 50-day MA, 100-day MA, 20-day MA, 10-day MA – are sloping upwards in favor of the bulls.
View
- Ether looks set to test record highs above $400 levels over the next week or two.
- Dips, if any, are likely to be capped below the 10-day MA level of $332 levels.
- Only an end-of-day close below $310 (50-day MA) would abort the bullish view.
Ladder image via Shutterstock
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
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