Ethereum saw a significant rise in value on Thursday, trading at $2,006.35 by 10:52 AM (14:52 GMT) on the Investing.com Index, marking a 10.09% increase for the day. This was the cryptocurrency’s largest one-day gain since May 8.
The surge pushed Ethereum’s market capitalization to $239.91 billion, accounting for 7.74% of the total cryptocurrency market. At its peak, Ethereum’s market cap had reached $569.58 billion.
In the 24-hour period leading up to the time of writing, Ethereum’s price fluctuated between $1,809.09 and $2,007.34. Over the past week, Ethereum has gained 7.86%, with a trading volume of $22.52 billion, representing 18.90% of the total daily trading volume across all cryptocurrencies. The coin has traded within a range of $1,754.38 to $2,007.34 over the last seven days.
Despite the recent rally, Ethereum remains down by 58.75% from its all-time high of $4,864.06, which was recorded on November 10, 2021.
In other cryptocurrency market news, Bitcoin was trading at $99,813.90, up by 2.97% on the day. Tether USDt, meanwhile, was slightly up at $1.0003, a gain of 0.01%. Bitcoin’s market capitalization stood at $1.979 trillion, representing 63.84% of the total cryptocurrency market, while Tether USDt held a market cap of $149.54 billion, or 4.82% of the market total.
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