Ethereum hits all-time highs

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Ethereum hit all-time highs on Wednesday, surpassing $ 1,500 amid expectations that Ethereum futures would be launched on the Chicago Mercantile Exchange next week. All in all, ETH gained about 120% since the beginning of the year.

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"Placing Ethereum futures on a regulated exchange should improve the structure of the cryptocurrency market. It will allow investors to access the second most important cryptocurrency, diversify Bitcoin, or simply to hedge existing Ethereum risks," analysts at JPMorgan said.

"There is a high chance that following the listing of Ethereum contracts, there will be negative price movements, which will allow some holders of physical ETH to hedge their risks. Then, the successful launch of contracts will most likely be followed by options on futures, similar to what happened with Bitcoin in the first quarter of 2020. On Ethereum, this will happen by 2022," they added.

To date, there is a growing number of networks integrating and/or developing their own mechanisms for the execution of smart contracts. This leads to an ecosystem that has many different types of DApps running on different networks. Increasingly, DApp developers want them to run on different networks at the same time, while having the same underlying token model. In situations where all the networks support the Ethereum Virtual Machine (EVM), developers can usually deploy their existing code and then just use it. But even in a favorable scenario, they still need a bridge to transport their own tokens to another network.



Andrey Shevchenko
Analytical expert
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