{"id":148852,"date":"2021-01-07T03:51:05","date_gmt":"2021-01-07T00:51:05","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/eth-en-route-to-overtake-its-2018-ath-as-bitcoin-breaks-37k\/"},"modified":"2021-01-07T03:51:05","modified_gmt":"2021-01-07T00:51:05","slug":"eth-en-route-to-overtake-its-2018-ath-as-bitcoin-breaks-37k","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/eth-en-route-to-overtake-its-2018-ath-as-bitcoin-breaks-37k\/","title":{"rendered":"# ETH en route to overtake its 2018 ATH as Bitcoin breaks $37K"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3717c0e77df\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3717c0e77df\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/eth-en-route-to-overtake-its-2018-ath-as-bitcoin-breaks-37k\/#ETH_price_exceeds_1200\" >ETH price exceeds $1,200<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/eth-en-route-to-overtake-its-2018-ath-as-bitcoin-breaks-37k\/#Bitcoin_juices_up_entire_market\" >Bitcoin juices up entire market<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/eth-en-route-to-overtake-its-2018-ath-as-bitcoin-breaks-37k\/#CME_set_to_launch_ETH_futures\" >CME set to launch ETH futures<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/eth-en-route-to-overtake-its-2018-ath-as-bitcoin-breaks-37k\/#DeFi_boom_is_not_over\" >DeFi boom is not over<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># ETH en route to overtake its 2018 ATH as Bitcoin breaks $37K  <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bullish fervor surrounding Ethereum (ETH) intensified on Wednesday, as the second-largest cryptocurrency broke above $1,200 for the first time in three years. The gains were largely driven by a confluence of fundamental factors, including Bitcoin\u2019s parabolic rally, the anticipation of ETH futures contracts and a surging DeFi sector.\u00a0<\/p>\n<h3><span class=\"ez-toc-section\" id=\"ETH_price_exceeds_1200\"><\/span>ETH price exceeds $1,200<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Ether\u2019s value peaked at $1,223.84 on Bitstamp, its highest since Jan. 2018 just before the market topped. At press time, ETH was up 8% and trading just above $1,210. The cryptocurrency is up more than 60% over the past week, bringing its total market cap to $135 billion.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-01\/47bd39b2-6fec-4e02-91f2-6c142a9f02a8.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD exchange rate via TradingView<\/em><\/figcaption><\/figure>\n<p>At the current pace, Ethereum looks poised to smash its previous record high of $1,432.88, possibly in the next few days. <\/p>\n<h3><span class=\"ez-toc-section\" id=\"Bitcoin_juices_up_entire_market\"><\/span>Bitcoin juices up entire market<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>As 2021 ramps up, Bitcoin\u2019s gravitational pull on the broader crypto market has intensified. The flagship cryptocurrency has just peaked north of $37,150 and is continuing to climb.<\/p>\n<p>Over the past month, Bitcoin has rallied almost 90% on the back of growing institutional interest and a supply squeeze limiting the available supply. Ether and other digital assets have benefited from Bitcoin\u2019s leadership pace. In fact, there\u2019s some evidence to suggest that institutional investors are eyeing ETH as the Bitcoin trade becomes crowded with players with deeper pockets. <\/p>\n<h3><span class=\"ez-toc-section\" id=\"CME_set_to_launch_ETH_futures\"><\/span>CME set to launch ETH futures<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>CME Group has also identified growing institutional interest in Ethereum and has announced plans to launch a new ETH futures product next month. <\/p>\n<p>Beginning Feb. 8, traders will have the opportunity to bet on Ethereum via regulated exchanges. The new futures product, referred to as the CME CF Ether Reference Rate, will provide traders with more efficient exposure to the digital asset, enabling wider price discovery and, possibly, higher adoption within institutional circles.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"DeFi_boom_is_not_over\"><\/span>DeFi boom is not over<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>While the DeFi craze <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to have settled down following last summer\u2019s historic highs, the ecosystem is growing in lockstep with the broader market. As of Wednesday, virtually every major DeFi coin in the top 20 had reported double-digit weekly gains &#8212; some even exceeding the explosive price growth of Ethereum. <\/p>\n<p>Since many DeFi projects are built on Ethereum, the sub-class has a positive impact on the ETH price. According to CoinMetrics, the DeFi boom could <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmetrics.io\/ethereums-defi-evolution-how-defi-is-fueling-ethereums-growth\/\">fuel<\/a> Ethereum&#8217;s growth over the long term.\u00a0<\/p>\n<p>Industry data also reveal a substantial increase in total value locked, or TVL, in DeFi projects. At last check, nearly $21.7 billion had been locked into the ecosystem, the highest on record. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-01\/23f583ee-e7c8-4b93-8c2b-d43e2314dc02.png\"><figcaption style=\"text-align: center;\"><em>Total value locked in DeFi by DeFiPulse<\/em><\/figcaption><\/figure>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/eth-en-route-to-overtake-its-2018-ath-as-bitcoin-breaks-37k\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# ETH en route to overtake its 2018 ATH as Bitcoin breaks $37K &#8221; Bullish fervor surrounding Ethereum (ETH) intensified on Wednesday, as the second-largest cryptocurrency broke above $1,200 for the first time in three years. The gains were largely driven by a confluence of fundamental factors, including Bitcoin\u2019s parabolic rally, the anticipation of ETH&#8230;<\/p>\n","protected":false},"author":1,"featured_media":148853,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2021-01\/7e9bec89-4217-4502-9814-cef610ff950e.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74937,75845,74863,74891],"class_list":["post-148852","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-price","tag-cme","tag-cryptocurrencies","tag-ethereum"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/148852","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=148852"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/148852\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/148853"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=148852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=148852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=148852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}