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Ether Breaks $2,500 for the First Time in Wake of Berlin Fork
The hype around ether is also reflected in the derivatives market.
Ether continued its rally on Thursday after the Berlin hard fork on the Ethereum blockchain went live earlier the day, surpassing $2,500 for the first time in history.
STORY CONTINUES BELOW
- The No. 2 cryptocurrency by market capitalization traded around $2,498.91 at press time, just slightly down after it briefly went as high as $2,503.92.
- Ether's price has been outperforming bitcoin's on Thursday, as the Ethereum blockchain's much anticipated Berlin hard fork went live earlier in the day.
- The upgrade, which sets up the network for the much bigger London hard fork in July, incorporates four Ethereum Improvement Proposals (EIPs).
- The hype around ether is also reflected in the derivatives market, as open interest in ether's options market rose to a record high above $3 billion on Wednesday.
- The late-day surge also could be due to news that the Rothschild Investment took at initial $4.75 million stake in the Grayscale Ethereum Trust. Grayscale is owned by CoinDesk parent company Digital Currency Group.
UPDATE (April 15, 23:48 UTC): Adds news of Rothschild's investment.
Muyao Shen
Muyao was a markets reporter at CoinDesk based in Brooklyn, New York. She interned at CoinDesk in 2018 after the initial coin offering (ICO) craze before she moved to Euromoney Institutional Investor, one of Europe's largest business and financial information companies. She graduated from Columbia University Graduate School of Journalism with a focus in business journalism.
