Futures Boost? Ether Looks Up on 11-Week High

Having clocked an eleven-day high on Sunday, the price of ether, ethereum’s native token, may have more gains ahead.

As per CoinMarketCap, the cryptocurrency rose to $371.29 yesterday – its highest level since Sep. 2. Week-on-week, ETH has gained 13.22 percent, while on a monthly basis, it is up 15.08 percent. At time of writing, the ether-U.S. dollar (ETH/USD) exchange rate is at $358 levels.

ETH seems to have pushed fears over the Parity wallet freeze on the back burner and moved higher to $350 levels in line with the bullish technicals as expected. The bid tone strengthened on Nov. 16 alongside a Bloomberg report that said the second-biggest cryptocurrency is poised to get its own derivatives market.

“Contracts on the ether digital currency will be offered by an as-yet-unnamed exchange going by the code name Virtuoso,” the report said. “Virtuoso” will reportedly be regulated by the U.S. Commodity Futures Trading Commission, and plans to offer…


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