Ethereum (ETH), the world’s second-largest cryptocurrency by market capitalization, has recently experienced a notable rebound, reclaiming a market cap exceeding $340 billion as of June 10, 2025. This marks a significant increase from $328 billion just a day prior, representing a 5% gain in market value within 24 hours.
The surge follows a strong rally in May, largely driven by the successful implementation of the Pectra network upgrade, which enhanced Ethereum’s speed, usability, and transaction handling capabilities. This upgrade had earlier propelled Ethereum’s market cap to surpass $308 billion in mid-May, overtaking major global corporations like Coca-Cola and Alibaba in asset value. Since then, Ethereum has maintained upward momentum, with its price hovering near $2,690 as of June 10, reflecting an 8% daily gain and renewed enthusiasm among both retail and institutional investors.
Trading volumes have also surged, with Ethereum moving over 560,000 coins worth approximately $1.5 billion on June 10 alone, signaling strong market participation. This increase in liquidity coincides with record-high futures open interest, indicating bullish sentiment among large traders and whales.
Despite this positive trend, Ethereum’s market cap remains about 23% below its peak from one year ago, which stood near $448 billion. Nonetheless, the current upward trajectory suggests growing confidence in Ethereum’s long-term prospects, especially as it consolidates gains and eyes potential further rallies toward the $3,000 price level.
In summary, Ethereum’s market capitalization rebound above $340 billion underscores a revitalized investor confidence fueled by technical improvements and increased trading activity, positioning ETH for possible continued growth in the near term.
