Ether is beginning to outperform bitcoin as Ethereum's highly anticipated Shanghai upgrade is now less than two weeks away. Reports godbole17.
), the native token of Ethereum's blockchain, rose to an eight month high on Tuesday, outshining market leader bitcoin , as U.S. stock futures traded higher while the dollar index dipped.. Bitcoin rose 1.7% to $28,300.
The ether-bitcoin ratio rose over 1% to 0.066, taking back a small portion of the 7% decline seen last month. Futures tied to Wall Street's tech-heavy index Nasdaq rose 0.35% to a fresh eight-month high, offering bullish cues to risk assets, including cryptocurrencies. Nasdaq futures have rallied over 20% this year, entering a bull market.
Investors continued to sell the safe haven greenback, driving The dollar index, which gauges the U.S. dollar's exchange rate against major currencies, to a two-month low of 101.79.