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Ethereum Leads the Crypto Market with a 15% Rise
Ethereum (ETH) has gained 15% in value over the last 24 hours, surpassing the $1,800 level after weeks of stagnation. With this performance, ETH has outpaced Bitcoin and the overall crypto market, recovering nearly 30% since its drop to $1,400 on April 9. This strong rise has allowed Ethereum's market dominance, which had fallen to all-time lows, to increase again.
Ethereum's sudden rise contributed to the total cryptocurrency market reaching a value of $3 trillion. According to TradingView data, ETH dominance had dropped to a low of 7% on April 22, 2019. However, the subsequent price increase allowed this share to bounce off the critical support level and rise above 7.5% on April 23. Technical indicators and the upcoming mainnet upgrade suggest that this upward trend may continue.
Ethereum Leads the Crypto Market with a 15% Rise
The price of Ethereum rose sharply after a long period of stagnation. The 15% increase in the last 24 hours enabled ETH to rise above $1,800. During the same period, Bitcoin gained 6%, while the total cryptocurrency market increased by 5%.
Experts believe that the upcoming mainnet upgrade is a significant factor supporting this movement in Ethereum's price. The confirmation of Paul Atkins as the chairman of the U.S. Securities and Exchange Commission (SEC) is also reported to have positively affected overall market confidence.
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