CryptoETHEthereum Surges 10% as Market Cap Approaches $240 Billion

Ethereum Surges 10% as Market Cap Approaches $240 Billion

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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Andrew
Andrew
Self-taught investor with over 5 years of financial trading experience Author of numerous articles for hedge funds with over $5 billion in cumulative AUM and Worked with several global financial institutions. After finding success using his financial acumen to build an investment portfolio, Andrew began writing and editing articles about the cryptocurrency space for sites such as chaincryptocoins.com, ensuring readers were kept up to date on hot topics such as Bitcoin and The latest news on digital currencies and Ethereum.

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