The rate at which investors are buying the world’s second most valuable cryptocurrency Ethereum has hit a new record as institutional investors and big capital have jumped into buying, investing, and trading with it.
However, the financial media has recently been fixing their eyes and attention to the world’s most valuable crypto bitcoin and its trend, it is also observed that Ethereum is getting very appealing.
On the institutional demand area, Ethereum’s trading volume hit a new record of $75.8 million yesterday been the 17th of February 2021, however, this happened one week after Ethereum futures started on CME.
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The Ethereum trading volume of $75.8 million is almost double the $40 million that was traded on Friday.
On the other hand, they have been an increase of about $62 million in open interest.
According to Glassnode,
Institutional demand: One week after #Ethereum futures launched on CME, daily trading volume reached a total of $75.8M yesterday – almost doubling Friday’s volume of $40M. Meanwhile, open interest has increased to $62 million.
Institutional demand: One week after #Ethereum futures launched on CME, daily trading volume reached a total of $75.8M yesterday – almost doubling Friday's volume of $40M.
Meanwhile, open interest has increased to $62 million.
— glassnode (@glassnode) February 17, 2021
Ethereum is traded at $1,892.82 with a trading daily volume of $40 billion at the time of writing this article which represents that Ethereum is up 6.52% for today.
Ethereum based on its market value of about $217 billion is currently the world’s second most valuable cryptocurrency.
According to a source, Recent data from Defi suggests that a lot of activity is ongoing on the Ethereum network, as Ethereum-based crypto market value has risen to over $83.7 billion from $1.9 billion a year ago, according to data from Coingecko.
Ethereum is the world’s second most valuable cryptocurrency with market value of about $217 billion.
Recently, Ethereum hit a new record has more invester buys, invest and trade with its currency.
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