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Ether Trades Above $700 for the First Time Since 2018
Ether is up over 11% in the past 24 hours.
Ether prices soared on Sunday, trading above $700 for the first time since May 21, 2018.
STORY CONTINUES BELOW
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The native currency of the Ethereum network's break above $700 marks an 11% gain in just 24 hours.
- Ether was as low as $624.76 in the 11:00 UTC (6:00 a.m. ET) hour, just five hours before trading at $700.
- The second-highest cryptocurrency by market cap, the total value of ether was $80 billion as of press time.
- Bitcoin has also been rallying over the Christmas weekend, at one point piercing the $29,000 mark. It was trading in the $27,300 range when ether made its move higher than $700.
- Volume was noticeably higher on the eight exchanges tracked by the CoinDesk 20. The combined value of ether changing hands on those exchanges was more than $2.3 billion. The average daily volume was $2.175 billion over the previous seven days.
Lawrence Lewitinn
Lawrence Lewitinn serves as the Director of Content for The Tie, a crypto data company, and co-hosts CoinDesk's flagship "First Mover" program. Previously, he held the position of Managing Editor for Markets at CoinDesk. He is a seasoned financial journalist having worked at CNBC, TheStreet, Yahoo Finance, the Observer, and crypto publication Modern Consensus. Lewitinn's career also includes time on Wall Street as a trader of fixed income, currencies, and commodities at Millennium Management and MQS Capital. Lewitinn graduated from New York University and holds an MBA from Columbia Business School and a Master of International Affairs from Columbia's School of International and Public Affairs. He is also a CFA Charterholder. He holds investments in bitcoin.
