Since the beginning of this 2021, everyday has come with a new record for the cryptocurrency, one day for Bitcoin and another day for another coin, in recent time, Bitcoin has achieved top 6th most valuable asset holders and the total market cap is above 1Trillion. Behind this race, Etherum is also creating many price records, at last ETH reached above $2 and the market capital is almost $230 Billion. Experts revealed some of the main reasons for ETH price increase such as decentralized finance, Ethereum 2.0 Staking and newly formed institutionally focused ETH market in CME (Chicago Mercantile Exchange).
Basically, Staking on ETH 2.0 contact is one of the main reasons for supply shock of support for the digital asset, people are getting involved in this platform in different way, in recent time, a lot of big investors tried to get exposure on cryptocurrency platform, that’s why including ETH, most of the crypto are getting high and this market capital is growing high day by day. Recently, CME cash settled contracts for the digital currency in the first week of February so the amount has surpassed almost $160 Billion, Since CME is one of the oldest and most trusted exchanges in the USA so the institutional acceptance is growing at a goot rate.