Ethereum reached a new record high on Friday

It beat $ 1,700 for the first time.

Ethereum, the second largest cryptocurrency after bitcoin, reached a new record high on Friday, surpassing $ 1,700 (€ 1,417.14) for the first time. According to CoinDesk, ethereum rose 4.8 percent to $ 1,720. It has improved by about 129 percent since the beginning of the year. The ethereum price is mainly supported by the Chicago Mercantile Exchange (CME) starting trading in futereum futures next week. Global investors continued to pump liquidity into ethereum funds and goods, with about $56.1 million in inflows in January, according to the study on institutional flows from the digital currency manager CoinShares. Bitcoin remains the beneficiary of the majority of total investor flows, or 92 trillion, equivalent to approximately $2 billion in January. Bitcoin, the oldest and largest cryptocurrency, set a new record of nearly $ 42,000 in January. Its price quadrupled last year, currently hovering over $ 38,000, about 29 percent higher than earlier this year.