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Ether
Ether (ETH) is the native cryptocurrency of the Ethereum blockchain, functioning as a fuel for operations within the network. It serves multiple purposes: as a digital currency, it can be bought, sold, and held as an investment; as a utility token, it's used to pay for transaction fees and computational services on the Ethereum network. Ether is integral to running decentralized applications (dApps) and executing smart contracts on Ethereum, providing the necessary resources for these operations. As Ethereum evolves, especially with upgrades like Ethereum 2.0, Ether's role remains central, facilitating not just transactions but also the broader ecosystem of decentralized finance (DeFi) and various blockchain-based applications.
The 3 Factors Fueling Ether’s 2020 Rally
Several factors could explain ether’s spectacular gains and determine whether they will continue.
Ether Futures Volume Highest Since June 2019
As ether’s price rose to seven-month highs on Wednesday, the aggregate daily volume in ether futures exceeded $4.5 billion for the first time since June 27, 2019.
Options Market Sees More Risk in Ether Than Bitcoin in Coming Months
Ether will face more volatility than bitcoin over the next six months, according to how options have been priced in recent weeks.
Bitcoin Breaks Above $10,000 in Spot Market
For the first time in three months, bitcoin’s price is being quoted in five digits to the left of the decimal.
Ethereum Miners' ETH Holdings Near Record Highs
Ethereum miners are hoarding ether tokens, and this could indicate high confidence in the project.
BlockFi Adjusts Interest Rates to Lure Larger Crypto Deposits
BlockFi recently announced it would make changes to the interest they pay for bitcoin and ether deposits.
Upbit Exchange Resumes Ether Services Months After $49M Hack
Upbit said users will need to create new wallet addresses to resume trading.
Into the Ether: Majority of All ETH Wallets Now 'Out-of-the-Money'
Ether is down significantly from record highs and the majority of its holders are losing money on their investments.
Chainalysis Report on PlusToken 'Scammers' Blamed for Monday’s Crypto Selloff
As bitcoin and ether prices fell below technically significant levels, some traders are citing fear emanating from a report about the alleged PlusToken Ponzi scheme as the reason for the plunge
Ether Outshines Bitcoin in a Gloomy Month for Crypto Prices
Ethereum's native cryptocurrency is reporting a slight monthly gain, outperforming bitcoin's double-digit price slide by a big margin.
