The price of Ether, the second largest crypto in the market by capitalization, has recently exceeded $700 for the first time since May 2018, CoinDesk reports.
In particular, the cryptocurrency created by Vitalik Buterin is currently trading at around $732.67 after adding more than 12.55% over the past 24 hours.
Regarding its capitalization, it amounts to $83.46B at press time.
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It must be noted that several positive news related to the crypto have recently been known, since in early December CME Group announced it plans to launch an ETH futures product next year, specifically on February 8. However, the product has yet to be approved by regulators.
This increase in ETH's price is not isolated, as the crypto market in general is enjoying a healthy rally. For instance, Bitcoin, the largest cryptocurrency in the market, has recently surpassed $27,500, only a few weeks after breaking the previous record of $20,000, which was reached back in December 2017.
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