Tuesday, May 24, 2022
Home Latest News Ethereum For the first time since 2018, Ether trades over $700

For the first time since 2018, Ether trades over $700

On Sunday, ether prices rose and it was trading over $700 for the first time since May 21, 2018.

The break in the Ethereum network’s native currency over $700 indicates an 11% rise in just 24 hours. Ether in the 11:00 UTC hour was as low as $624.76, just five hours before trading at $700.

The total value of ether, the second-highest cryptocurrency by market cap, was $80 billion as of press time.

Bitcoin has also been rallying over the weekend of Christmas, piercing the $29,000 mark at one point. It was trading in the $27,300 range before ether made its step higher than $700.

On the eight exchanges monitored by the CoinDesk 20, volume was significantly higher. More than $2.3 billion was the total amount of the ether changing hands on those exchanges. During the previous seven days, the estimated daily amount was $2.175 billion.

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