Ether, the second-largest cryptocurrency by market value, is approaching the $4,000 mark, for the first time since December 2021. It's currently trading at around $3,950.. Over the past 30 days, ether has outperformed bitcoin, climbing 67%, while bitcoin rallied 57% and the CoinDesk 20 Index, a gauge of the broader crypto market, rallied 53%.
If bitcoin were to match gold’s allocation in investor portfolios, its market cap should rise to $3.3 trillion, implying a more than doubling of its price, but that probably won't happen because of the cryptocurrency's risk and heightened volatility, JPMorgan . Gold is the best comparison for the cryptocurrency given investor perception of bitcoin as a digital version of the metal, the report said. “Most investors take risk and volatility into account when they allocate across asset classes and given the volatility in bitcoin is around 3.7 times the volatility of gold it would be unrealistic to expect bitcoin to match gold within investors’ portfolios in notional amounts,” analysts led by Nikolaos Panigirtzoglou wrote.
The so-called notional open interest in calls stood at $7.57 billion versus $3.5 billion in put options. The market is positioned for a continued move higher in Ethereum's native token, ether, the second-largest cryptocurrency by market value.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.
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