Ether price jumps to all-time high of $2,074

(Thought Catalog/Unsplash)

(CoinDesk) — Ether (ETH, -5.71%) jumped 5% Friday to a new all-time high as the second-biggest cryptocurrency extended its winning streak to five days.

  • The cryptocurrency traded as high as $2,074.46 around 15:00 UTC, according to CoinDesk 20 data, surpassing the previous high of .
  • The price has rallied 18% this week in the wake of Visa’s decision to facilitate crypto-based settlements on the Ethereum blockchain network.
  • Ether, the native cryptocurrency for Ethereum, has nearly tripled in price this year.
  • In an announcement on Monday, the payments giant said it is working on a program to settle transactions in stablecoin USD Coin (USDC (+0.13%)) over Ethereum with its partner
  • Billionaire investor Mark Cuban, who hosts the CNBC show “Shark Tank” and owns the Dallas Mavericks professional basketball team, said on a recent podcast episode that he’s bullish on cryptocurrencies including bitcoin, but that Ethereum is “the closest we have to a true currency.”
Ether’s daily chart
  • Ether’s daily chart shows a symmetrical triangle breakout. The pattern indicates that the multi-week consolidation has ended, and the broader uptrend has resumed.
  • The options market is making big bets on the second-largest cryptocurrency, as seen below.
Ether options data
  • According to data tweeted by options analytics platform Genesis Volatility, traders are aggressively buying the $25,000 call option expiring on Dec. 31, 2021, listed on Deribit, the world’s largest crypto options exchange by trading volumes and open interest.
  • Seasonality favors a more substantial rally in ether than bitcoin (BTC, -3.09%) over the near term.
  • “Ether has outperformed bitcoin in every May till date,” Timothy Peterson, an analyst at Cane Island Alternative Advisors, told CoinDesk in a Twitter chat.
Ether’s performance relative to bitcoin

Share on facebook