For the first time since May 19, 2018, Ether (ETH) crossed $730. As a result of the ETH rally, crypto traders are confident that the digital asset would continue to pull in gains for a while. At press time, ETH is up 7.31% to $741.66.
Cointelegraph noted two factors that fueled the surge in ETH’s price. According to the , the factors are a strong technical market structure and the Chicago Mercantile Exchange (CME) Ethereum futures listing in January 2021.
Crypto trader Scott Melker commented on ETH’s continuous surge. Over the past week, Ether has been adding gains and recording highs. Melker said: