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The cryptography markets started the week on a positive note with a $ 5 billion increase that allowed most tokens to make solid gains. The best performance at the moment however is Ethereum, with a 12% rise and an XRP lead in third place.
Ethereum flying Bitcoin at recovery
Ethereum, which currently outperforms all top 25 cryptographic assets, has pumped 12% in the last few hours to $ 138. Conversely, the XRP did not receive much attention during the current recovery, so the market capitalization gap between them has now widened to nearly $ 2 billion.
The daily volume of Ethereum trade also rose from $ 2.8 billion to $ 4.7 billion after spending last week at just over $ 120. Since its low point for 2019 February 6, $ 103, Ethereum have made 34%. Bitcoin during the same period has managed to gain only 10% at its current levels.
The momentum of Ethereum should be fueled by Constantinople's hard-shell approach, which introduces a number of network improvements. The estimated date is now March 1st according to the countdown to block 7280000. Two events will take place, Constantinople presenting several proposals for improvement Ethereum and Petersberg aimed at removing a buggy EIP.
Some have speculated that the hard range is actually bearish for Ether, because postponing the bomb to difficulties will result in a reduction in supply. The adjustment of the block reward takes a little more time until the implementation of Proof of Participation with the Casper Upgrade. For the moment, ETH is gaining momentum as it moves towards $ 150.
Ethereum Futures Revisited
ErisX boss, Thomas Chippas, recently revived the interest in the long-awaited Ethereum futures by sending a letter to the Commodity Futures Trading Commission (CFTC), outlining their importance for the health of the markets. The company, designated contract market and organization pending clearing of derivatives, maintains close ties with financial technology industry giants such as Nasdaq, ConsenSys and TD Ameritrade, and has been widely viewed as a rival of Bakkt.
"ErisX believes that the introduction of a regulated futures contract on Ether would have a positive impact on the growth and maturation of the Ether market, as well as the Ethereum network in general," the letter says.
Chippas added that the CFTC had previously approved Bitcoin-related products and that Ethereum relied on some of the architectural principles of Bitcoin to extend its functionality. The letter continues to extol the benefits of Ethereum and how a regulated investment vehicle "would promote responsible innovation and development in the derivatives market".
Ethereum today shows love at least significantly outperforming the twenty-five most important cryptographic assets.
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