Ethereum, the world’s second-largest cryptocurrency, has seen a surge in market value, pushing its market cap to $253.25 billion, which accounts for 19.85% of the total cryptocurrency market cap. While Ethereum’s market cap was at its peak of $569.58 billion, this recent increase is still significant. In the past 24 hours, Ethereum has traded between $2,009.53 and $2,108.80.
Over the last seven days, Ethereum has experienced a 12.03% increase in value, and the volume of Ethereum traded in the past 24 hours was $12.93 billion, which accounts for 27.92% of the total volume of all cryptocurrencies. In the past seven days, Ethereum has traded in a range of $1,825.6034 to $2,108.7979.
Despite the recent increase, Ethereum is still down 56.65% from its all-time high of $4,864.06 set on November 10, 2021. However, this surge in value is a positive sign for Ethereum investors.
On the other hand, Bitcoin, the world’s largest cryptocurrency, was last trading at $30,743.3 on the Investing.com Index, representing a 2.54% increase on the day. Meanwhile, Tether, a stablecoin pegged to the US dollar, was trading at $1.0002 on the Investing.com Index, indicating a loss of 0.01%.
Bitcoin’s market cap was last valued at $595.05 billion or 46.65% of the total cryptocurrency market cap. In contrast, Tether’s market cap totaled $80.84 billion or 6.34% of the total cryptocurrency market value. These figures highlight the dominance of Bitcoin in the cryptocurrency market.
In conclusion, the recent surge in Ethereum’s market value is a positive sign for investors, and it will be interesting to see how the cryptocurrency market evolves in the coming days and weeks.