Ethereum’s new All-Time High: USD 470

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What is Ethereum

Ethereum’s official token, Ether (ETH), has just reached a new All-Time High in its price, being quoted at $ 470 per coin – at press time –.

According to data collected from website CoinMarketCap, the ETH/USD exchange rate found itself with a last, small dip in its price, in November 21, at around 02:50 UTC, when its value was above $ 372.45, and its market cap rose up to 35k mln dollars, just to drop down – two hours later – to $ 350.69 per token, and losing 2k mln of market cap in the process.

Since that moment, Ethereum just started a rally towards the sky that not only allowed it to reach its former record – $ 414 – but also broke through and register a new All-Time High of $ 470.

Virtuoso”, possible ether’s CME

Apparently, news of EHT being traded in its own derivatives market – just like Bitcoin will in the CME Group’s yet-to-come futures contracts platform – has contributed to the soaring of this cryptocurrency, in just a few hours.

According to Bloomberg, the platform in charge of facilitating this is, as of yet, only known by the code name “Virtuoso”. In their post, it is stated that one of its co-founders is Sunil Hirani – also co-founder of the CDS Brokerage, Creditex Group, which was sold to Intercontinental Exchange Inc. for about half a billion dollars, in 2008.

The exchange would be overseen by the U.S. Commodities Futures Trading Commission (CFTC), and will be aimed at companies and institutional investors exposed to ether’s price swings. They’re also planning in offering futures, non-deliverable forwards, swaps and forwards and, although it haven’t been decided yet, there’s the possibility that some of the contracts will deliver ether to hoders if held to expiration.

High expectative for Ethereum

Simultaneously, an increase in Ethereum’s transactions is being subject of conversation all around the social medias, commenting that it is processing more transactions in a single day than all of cryptocurrencies together.

Besides, there have been predictions from economy’s high profile people. For example, billionaire Mike Novogratz, recently said that this token’s price could – by the time this year ends – “close at 500 USD”, adding that “there are a lot of positive things happening in the ethereum ecosystem.”

In the other hand, Startpoint Research founder and analyst Ronnie Moas, also predicted that world’s second largest cryptocurrency, would reach the $ 400 barrier. Curiously, this prediction was released in August.

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