Ethereum (ETH) is witnessing a price breakout on the back of increasing institutional interest in the second largest cryptocurrency by market cap. The increased bullish sentiment pushed Ether price up by 2% to an intra-day high at $2,118 and the fact that ETH trades above $2,000 could be a sign that greater attention is shifting toward Ether. The renewed bullish momentum comes after last week’s blockbuster performance which saw ETH gain 10.4%.
Ether price. Source: TradingView
Let’s review a few of the reasons for Ether’s newfound strength.
Institutional interest soars as the spot ETH ETF hype spreads
The institutional investor hype began on Nov. 1 when the U.S. Securities and…
Read more on Cointelegraph