Ethereum Reaches new All-Time High of $750

By Daniel Zo Ethereum, Ether, EU, Bank

The last few months have been truly kind to the world of digital currencies, considering the fact that all major cryptocurrencies have reached unbelievable new all-time highs, thanks to increasing investor interest, bitcoin futures, and new blockchain and crypto-based platforms revolutionizing our current financial system from the ground up.

With this in mind, Ethereum, which is the world’s second biggest digital currency in terms of market capitalization has reached a new all-time high on Thursday, the 14th of December, with values first breaking the $600 threshold, and then surging even higher to $750. At the time of writing, the value of Ether, has decreased a bit, as it is currently trading at approximately $670.

Ethereum

At this time, economic analysts believe that there are several reasons behind Ethereum’s value increase. Firstly, new regulatory implementation and acceptance are making way for Ether-based financial products to appear in the near future. It is important to point out the fact that not long ago, Bitcoin futures begun trading on a couple of securities exchanges, including the CME Group. Given the fact that trading has gone ahead smoothly, regulators are now more prone to accept possible financial tools based on Ether as well.

Apart from this aspect, a group of EU banks alongside with the Swiss-giant, UBS, will soon begin using Ethereum in order to come up with a couple of compliance procedures. These will be used to smoothen the forthcoming Directive II of the European Union Markets regulations that will come into effect on the 3rd of January. The institutions involved in the project include Barclays Bank, the Swiss Stock Exchange, Credit Suisse, KBC and more.

Another reason behind the value surge might relate to the increasing popularity of Initial Coin Offerings. While some may consider them as controversial due to lack of regulations, ERC-20 Ethereum compliant tokens being released by start-ups looking for funding are also bringing more attention towards the industry.

An industry expert mentioned that: "Ethereum as a clear number two in the space is an obvious choice to receive the same treatment and have futures listed. It would be no surprise if these plans were already in the works." 

Following the constant rise in crypto prices, the market capitalization of all digital assets is now of around $466 billion, and experts think that higher values will be attainable in the near future.

Based on everything that has been outlined so far, what are your thoughts on Ether’s rising prices? Let us know in the comment section below.