Ether Looks Overleveraged as Cryptocurrency Hits New High Over $1,900
Ether's derivative market looks overheating amid the cryptocurrency's rally to new record highs.
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The Ethereum blockchain is growing fast thanks to DeFi, and some traders say the ether cryptocurrency could notch further gains.
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Ether has more than doubled in value this year, outperforming bitcoin.
The last time bitcoin’s closing price was under $30,000 was Jan. 1, according to CoinDesk 20 data.
Ether hits two-and-a-half-year highs and follows Bitcoin to reach significant psychological levels this week. Ether (ETH) returned to $500 for the first time in more than two years on Nov. 20 as altcoins slowly staged a comeback from poor performance.Cryptocurrency market overview from Coin360.Ether price sees $500 after more than two yearsData from Cointelegraph Markets, Coin360 and TradingView showed ETH/USD briefly hitting the psychologically significant barrier in Friday trading before a rejection halted progress.Despite being capped at roughly 6% daily gains at press time, Ether’s....