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Ether Trades Above $700 for the First Time Since 2018

Ether is up over 11% in the past 24 hours.

Dec 27, 2020 at 4:03 p.m. UTC
Updated Sep 14, 2021 at 10:48 a.m. UTC

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 prices, Dec. 26–27, 2020

  • 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.

Ether volumes on eight exchanges tracked by the CoinDesk 20.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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