The crypto market today experienced great enthusiasm with Tesla’s purchase of Bitcoin. Following Tesla’s $1.5 billion purchase of BTC, the price broke a new all-time high record, breaking above $44,000. Hours after Bitcoin’s ATH, the price of Ethereum, the second largest cryptocurrency and largest altcoin, also broke records.
Ethereum crossed the $1,700 level for the first time on February 5th. Today, before continuing its rally, it fell to the level of $ 1,500. However, at the time of writing, ETH has surpassed its former high of $1,752.
The second largest crypto currency unit by market price, reaching $ 1.776, breaking the record.
New All-Time-High #Ethereum 🚀🚀🚀
👉 https://t.co/xwkFo7ICNI pic.twitter.com/kXVIRvtq0M— Cryptowatch (@cryptowat_ch) February 8, 2021
It was a critical day for Ethereum
As Cryptokoin.com has previously reported, ETH futures processes have been launched at CME today. According to some in the market, the launch of CME Ethereum futures was the driving force behind ETH’s all-time high rise from the price level of around $600 in December 2020. The reason behind the recent rally may also be the Ethereum futures work of CME Group.