June 25, 2021

Ethereum (ETH) Will Catch Up With Bitcoin (BTC) in 2021, CME Ether Futures Will be Game-Changer

3 min read

Bitcoin has actually made a remarkable rally today smashing past$27,000 and is currently trading at its new all-time high around $27,650 levels. This is a huge Bitcoin price rally that does not appear to be stopping anytime quickly.

As Bitcoin is making huge gains, the altcoins have followed the queue. Ethereum (ETH) has actually moved past its vital resistance and is up 4% above $650 levels. Lots of analysts think that the ETH cost rally is just beginning and 2021 could be a game-changing year for ETH.

Keep in mind that in terms of percentage returns, ETH has really been an outperformer over BTC in 2020. The Ethereum (ETH) year-to-date returns stand at 400% while for BTC it is 300%. Nevertheless, the reality is that BTC is currently 30% up from its 2017 high whereas ETH is trading at more than 50% discount from its all-time high.

Many market analysts think 2021 could be the year for ETH. Much like Bitcoin, institutional interest in Ethereum is growing, although at a slower speed. The Grayscale Etherem Trust (ETHE) has actually seen major investments coming from organizations over the last few months. Well, this might further speed up in the coming year!

The Grayscale Ethereum Trust (ETHE) now handles more than$1.7 billion in assets under management (AUM). Shares of ETHE (OTCMKTS: ETHE)are currently up 700% year-to-date. Lots of analysts think that as soon as Bitcoin rally cools down, the cash will begin streaming into altcoins and ETH will be the first option of investors.

Ether(ETH )Futures to Shoot Institutional Participation Two weeks back, the Chicago Mercantile Exchange (CME Group) revealed that it will begin trading cash-settled Ether (ETH) Futures in February 2021. This will be a major trigger point pulling institutional cash in ETH. Remember, CME was the very first to begin Bitcoin Futures in December 2017 activating institutional participation in BTC.

It is quite most likely that Ethereum will move past its all-time high of $1400 in 2021, suggesting we are taking a look at almost 100% cost gratitude over the next year.

Apart from Ethereum (ETH), there are some other altcoins worth to watch out for. Litecoin (LTC) has actually emerged as a formidable gamer getting 90% over the last month. Other players like Polkadot (DOT) and Chainlink (LINK) has actually made good developments this year. Cardano (ADA) is making major enhancements in its blockchain fundamentals.

However, the fate of Ripple’s XRP awaits balance. The recent SEC claim on Ripple could result in an ugly war in between the regulator and the blockchain startup. Financiers are most likely to wait on the sidelines till more clarity emerges in this matter.

The post Ethereum (ETH) Will Catch Up With Bitcoin (BTC) in 2021, CME Ether Futures Will be Game-Changer appeared initially on Coingape.