Ether prices soared on Sunday, trading above $700 for the first time since May 21, 2018.
The native currency of the Ethereum network’s break above $700 marks an 11% gain in just 24 hours.
- Ether was as low as $624.76 in the 11:00 UTC (6:00 a.m. ET) hour, just five hours before trading at $700.
- The second-highest cryptocurrency by market cap, the total value of ether was $80 billion as of press time.
- Bitcoin has also been rallying over the Christmas weekend, at one point piercing the $29,000 mark. It was trading in the $27,300 range when ether made its move higher than $700.
- Volume was noticeably higher on the eight exchanges tracked by the CoinDesk 20. The combined value of ether changing hands on those exchanges was more than $2.3 billion. The average daily volume was $2.175 billion over the previous seven days.