Ethereum Sees Significant Price Surge Amidst Cryptocurrency Market Volatility
Ethereum's Recent Price Surge
Ethereum saw a significant price increase, trading at $2,852.79 on the Investing.com Index, marking a 13.71% gain on the day. This surge represents its largest one-day percentage gain since August 8, 2024. The upward movement boosted Ethereum's market cap to $344.06B, accounting for 10.30% of the total cryptocurrency market cap.
Market Context and Trends
Despite the recent gains, Ethereum's price remains 41.35% below its all-time high of $4,864.06, recorded on November 10, 2021. Over the past seven days, Ethereum's value has declined by 9.66%. Its 24-hour trading volume reached $86.91B, representing 25.97% of the total cryptocurrency trading volume.
Broader Cryptocurrency Market Performance
Bitcoin also saw a notable increase, rising 8.77% to $101,612.5, with a market cap of $2,009.98B, or 60.18% of the total cryptocurrency market. XRP gained 13.60% to $2.7501, with a market cap of $159.15B, representing 4.77% of the total market value.
The cryptocurrency market continues to exhibit volatility, with Ethereum and other major cryptocurrencies showing mixed trends over the past week.
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