As investors await the launch of Ether futures contracts from the Chicago Mercantile Exchange in the coming week, ETH continues to pull in constant gains.
Ether (ETH) has reached its record high of over $1,700 on the 5th of February around 10:30 a.m. ET. Data by CoinDesk revealed that the world’s second-largest crypto asset by market cap surged 11.2% to $1,743.
ETH Climbs Record High
Following its recent increase to reach a new record high, the price of ETH fell. At press time, ETH is trading at $1,664.84, according to data from CoinMarketCap.
Ether has gained about 129% since the beginning of the year. With a market cap of nearly $191 billion, ETH has increased by 4.36% in its trading volume over the past 24 hours.
As of the 3rd of February, ETH had gained 126% since the start of January 2021. Raoul Pal, the Global Macro Investor and Real Vision Group CEO, said that he expects ETH to reach $20,000 by year-end.
The top two digital assets, Bitcoin and Ether, have both reached an all-time high in 2021. The world’s largest digital asset by market value, Bitcoin recorded its all-time high of nearly $42,000 in January. Precisely, BTC hit a fresh record high at $41,973 on the 8th of January. At the time, BTC had gained 40% in its year-to-date record.
The price of Bitcoin had dropped since then, however, and is currently trading at $39,390.50. Also, current records showed that the king coin has gained around 29% since the beginning of the year.
Investors Anticipate Launch of Ether Futures by CME
As investors await the launch of Ether futures contracts from the Chicago Mercantile Exchange in the coming week, ETH continues to pull in constant gains. Trading in Ether futures is scheduled to begin on the 8th of February.
As CNBC stated in a report, some investors believe that futures and other crypto-focused derivatives will encourage institutional investors to invest in crypto.
Sachin Patodia, a partner at venture capital fund affiliated with FMR LLC, Avon Ventures, said:
“Bringing more financial instruments will bring more participants into the market. That probably is positive for the ether price.”
He further noted that Bitcoin is fuelling the increase in ETH:
“We’ve seen this pattern over many crypto cycles that we’ve gone through, where Bitcoin leads the way in price movement and then you see what we call the alt-coins get carried along.”
An analyst Simon Peters spoke to CNBC on the highly anticipated launch of ether futures from the Chicago Mercantile Exchange. The analyst said that the development by the CME may “spark” more ETH buying. Noting his reason, Peters said, “it provides a way for sophisticated investors to hedge their risk against positions that they may be holding on the underlying asset.”
Also, investors said that the major upgrade on the Ethereum blockchain. Ethereum 2.0 is another factor fuelling the ETH surge.
Notably, Grayscale recently added another 24,800 ether to its Ethereum Trust.
Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience. Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.
JNJ Stock Up 3% in Pre-market as FDA Approves Johnson & Johnson Single-shot COVID-19 Vaccine
The vaccine developed by Johnson & Johnson has varying efficacies as shown by FDA documents. In the United States, efficiency is at 72%, 66% in Latin America, and about 64% in South Africa.
The United States Food and Drug Administration (FDA) has issued an Emergency Use Authorization (EUA) to the single-shot COVID-19 vaccine developed by Johnson & Johnson (NYSE: JNJ). As reported by CNBC, the approval granted to the firm will usher in the government’s scheduled plans to roll out about 4 million doses of the vaccine to states, pharmacies, and community health centers this week.
The new vaccine approval gives the United States a third option as similar consent has been given to the duo of Pfizer Inc (NYSE: PFE), and Moderna Inc (NASDAQ: MRNA). At a Q&A session with the Journal of the American Medical Association, Dr. Nancy Messonnier, director of the CDC’s National Center for Immunization and Respiratory Diseases noted that the Johnson & Johnson vaccine “makes it operationally easier in lots of contexts. I expect lots of considerations state health departments are having around these vaccines is more about the ease of use of the J&J vaccine and how it might be better suited for some populations.”
Different from its predecessors, the newly approved vaccine is a single dose regimen compared to the two doses from Pfizer and Moderna’s. JNJ has a deal to supply the United States about 100 million doses by the end of June with about 20 million expected to be delivered as early as March ends.
The shares of Johnson & Johnson which closed lower by 2.64% at $158.46 on Friday are seeing a rejuvenation in the pre-market where it is up 3.52% to $164 at the time of writing.
Johnson & Johnson Single-shot COVID-19 Vaccine Has Varying Efficacy Figures
The vaccine from JNJ reportedly has varying efficacies as shown by FDA documents. In the United States, efficiency is at 72%, 66% in Latin America, and about 64% in South Africa. Overall, each inoculation dose can guarantee a 66% effectiveness in combating the novel coronavirus disease.
Though this percentage rate of COVID-19 prevention by the JNJ vaccine is lower than that of Pfizer at 95% and Moderna’s at 94%, experts have dismissed comparison between these vaccines as the former’s is just a single dose shot.
The trio will be instrumental in pushing back the rate of spread of new strains of the virus in the US. “We need to get this vaccine out now,” Dr. Jay Portnoy, a professor UMKC School of Medicine and a voting member of the FDA committee said after the vote. He added, “we’re in a hurry” as the variants pose a threat to the nation’s progress on the pandemic.
The Johnson & Johnson vaccine also requires a milder storage temperature at 36 to 46 degrees Fahrenheit, which is more favorable than that of Pfizer and Moderna respectively.
Global Vaccination Progress
The global vaccination schedule is well on track for some developed and rich countries while most developing nations are yet to get their hands on a single vaccine dose from any of the companies whose shots have been approved.
According to stats obtained from Our World in Data, about 240 million COVID-19 vaccine doses have been administered thus far with just 52.1 people recording full vaccination. The United States and China are the two nations that have the most number of people vaccinated thus far.
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
Brian Armstrong, CEO of Coinbase, Enters World’s 500 Richest People
Upcoming Coinbase’s Nasdaq listing is considered to become one of the largest in the world which will help to put cryptocurrencies in the mainstream.
Coinbase CEO Brian Armstrong has become one of the richest men in the world, entering the world’s 500 richest people, with a net worth of approximately $15 billion, according to Bloomberg’s Billionaire Index.
Armstrong was paid $60M in compensations in 2020. However, what catapulted his net worth —and making him a billionaire— is that his company recently filed with the Securities and Exchange Commission (SEC) for a direct listing on the Nasdaq.
Coinbase CEO Armstrong Outranking Other CEOs
The wealth index estimates suggest that Armstrong is now richer than other famous CEOs, including Snap Inc CEO Evan Spiegel and Twitter’s Jack Dorsey —who recently purchased $170M worth of Bitcoin with his other company, the financial service platform Square.
Armstrong’s funds are mostly held in crypto-assets, which is why his net worth is subject to the inherent volatility of the crypto market. The CEO is now worth between $7 to $15 billion, depending on price swings in the market. However, this is enough to be considered one of the richest men in the world.
Coinbase’s Nasdaq Listing
Coinbase’s Nasdaq listing is considered to be one of the largest in the world, putting cryptocurrencies in the mainstream again. According to Bloomberg, the company soared over $100 billion in value followed by recent private shares. In a note included in the SEC filing, Armstrong stated:
“Trading and speculation were the first major use cases to take off in cryptocurrency, just like people rushed to buy domain names in the early days of the internet. But we’re now seeing cryptocurrency evolve into something much more important.”
While Coinbase saw substantial losses in 2019, it recovered in 2020, when the demand for cryptos started considering a greater institutional demand for digital assets. In August 2020, Paypal decided to allow cryptocurrency custody, and other companies would soon start embracing crypto-assets. This is how Coinbase’s user base and trading volumes increased considerably by the end of the year.
The company revealed it now holds over 40 million active traders on its database. The demand for crypto grew considerably, and the company executed at least $456B in trading volumes last December.
Coinbase could become one of the largest listings since Facebook Inc IPO. Accordingly, Coinbase reached a net income of $322 million last year. Likewise, the company reported locking a total revenue of $1.3B, a considerable growth from 2019, when it lost almost $30.4M.
I’m a finance journalist and copywriter with a keen interest in the fintech field. I have keen on blockchain technology and cryptocurrency and I believe it can reshape the way we see money and financial freedom.
NBA Top Shot Records $1.05M with New Release
Dapper Lab’s NBA Top Shot is on its way to be the lead in the whole digital collectible ecosystem.
Dapper Labs’ surging project NBA Top Shot, has just let out its complete and most expected NFT. According to the release, the complete NFT gives out 10,631 video packs. Top Shot’s release packs contain basketball videos pin to the Flow blockchain for an income record of over 1 million dollars.
Head of Dapper Labs, Roham Gharegozlou, per reports stated that the website has in the last month received about 50 million dollars in trades with some instances that see several top players resold for quite a considerable amount. As a result, the new Top Shot pack “moment” has been surprisingly huge.
The Top shot project established just a few months ago but has made tremendous success, thus skyrocketing as the project gets hype from major NBA league stars and the trades’ massive involvement. The website is also gradually becoming a further step for the blockchain space.
Generally, the income of the project’s latest video pack has soared to a whopping 7.38 million dollars, and as per a sourced data, we will see more income as demands grow high. According to data, NBA Top Shot’s most giant sales come in by the recently release pack that’s at its best has more than 200k optimistic collectors in a queue for packs of coded NBA videos.
CEO Roham Gharegozlou added that there might be small challenges, yet they are on the right path to becoming the fastest soaring market. The platform has faced significant challenges in keeping up with high demands. The company’s recently released pack was at least twice delayed, with new sign-ins taking off they try to have a grip on the extensive work and cause the beta platform on a comparatively smooth rollout.
Many league top players and owners have shown much excitement in the project. The Dallas Mavericks owner Mark Cuban finds this new release incredible, saying, Top Shot’s “moment” is the next big thing.
NFT distribution shows no indication of cooling down anytime from now. Developing on Dapper’s in-house Flow blockchain, the project has bloomed in mainstream sports culture.
Dapper Lab’s NBA Top Shot is on its way to be the lead in the whole digital collectible ecosystem. The new released Top Shot “moments” have, in particular, made its raid statement with Flow gardens and moving to the OpenSea space amidst ETH-based NFTs.
In conclusion, it’s worth mentioning that the project is all about basketball and not about cryptocurrency in any way.
Experienced Writer with a demonstrated history of working in the financial services and the technology industry.
Monero2 days ago
6 Questions for Kain Warwick of Synthetix – Cointelegraph Magazine
DeFi2 days ago
DeFi Alliance Announces New Investment Fund to Fuel Growth in DeFi Space
Market2 days ago
NBA Top Shot Records $1.05M with New Release
Bitcoin3 days ago
The SEC Releases Compliance Notice on Future Crypto Regulations
Cryptocurrency3 days ago
Investment Firm Launches the First ‘Crypto Hedge Fund’ in Spain- Plans to Expand Across Europe, Latin America – Finance Bitcoin News
Cryptocurrency2 days ago
Managed Assets Rise to $44 Billion This Month – Bitcoin News
Regulations3 days ago
Crypto can be lucrative, but make sure you’re ready for the taxman
DeFi2 days ago
Cardano Reaches All-Time High, Ahead of Ethereum in Transaction Volume