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Ethereum's Ether Token Tops $60 to Set New All-Time High
The price of ether, ethereum's native token, has hit a new all-time high, exceeding $60 for the first time ever.
By Stan Higgins
Updated Sep 11, 2021, 1:16 p.m. Published Apr 27, 2017, 1:20 p.m. 1 min read
The price of ether has hit a new all-time high, exceeding $60 for the first time ever.
Prices reached as high as $60.15 during morning trading, according to CoinDesk’s Ethereum Price Chart. Ether is the cryptocurrency that underlies the ethereum blockchain network.
As previously reported, prices have hovered above the $40 level since 22nd March, bouyed by what analysts say is a mix of positive sentiment and rising market liquidity. At press time, the price of ether is averaging about $59.
The price move comes days after the SEC disclosed that it has initiated the approval process for a proposed ether exchange-traded fund (ETF). The bid to launch the EtherIndex Ether Trust (the first proposed product of its kind) began in July 2016.
The bulk of the past day’s trading has taken place on digital currency exchange Poloniex, according to figures from CoinMarketCap, accounting for roughly $59m of the $202m in 24-hour volume reported by the site.
Hot air balloon image via Shutterstock; Graph via CoinMarketCap
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From May 20 to May 29, XRP funds took in $35 million while bitcoin and ether ETFs lost roughly $2 billion combined, with Ripple’s earlier reported XRP treasury plan still awaiting confirmation.
What to know:
- U.S.-listed spot XRP ETFs drew $11.88 million in net inflows on May 29, extending a week of gains even as bitcoin and ether funds saw continued redemptions.
- Total net assets in U.S. XRP ETFs now stand near $1.12 billion, with about $35 million added since May 20 while bitcoin and...
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