While Bitcoin continues to move within the $60,000-63,000 range this week. The price of Ethereum (ETH), the world’s No. 2 cryptocurrency, hit a new all-time high of $4,680 on Nov.3 ago. Officially, the price is currently at $4,540.31 as of 1:50 p.m. ET.
The rise of Ethereum is being fueled by an upgrade to Ethereum 2.0, which is expected to become a faster and more secure network.
It is also backed by CME Group, one of the world’s leading derivatives exchanges. They announced that it will expand its crypto derivatives with the opening of its Micro Ethereum Futures contract on December 6.
The Micro ETH contract is only 10% the size of an Ethereum coin. This reduces the trading value of an ETH contract by 10 times. As a result, investors do not need a large amount of funds to trade ETH, and also to help give the price ETH a higher liquidity and trading volume.