Ethereum is now gaining institutional demand two months after the CME Group launched its Ether futures, according to CryptoBriefing.
- Outstanding contracts on CME hit $357 million and trading volume at $680 million on April 22, according to data from Skew.
- The number of addresses with 10,000 to 1 million ETH grew by 5.22% in the last two weeks.
- An estimated 57 whales or those who hold between $27 million and $2.7 billion in ETH joined the network since then.
- Open interest and daily volumes have been rising steadily since Ether futures were launched by CME on February 8.
- Analysts expect more institutions to turn into the digital coin and bring prices even higher as Ether continues to climb while Bitcoin falls.
- Ethereum was last trading at a record $2,781 and Bitcoin at $53,752 as of 3:33 p.m. GMT on Thursday.