Ethereum Surges 10% in 24 Hours, Boosting Crypto Market Cap to $253B

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Ethereum experienced a 10% rally on Friday, reaching $2,108.57 according to the Index. This marks the largest one-day percentage gain since November 10, 2022. Ethereum's market cap also climbed to $253.25 billion, accounting for 19.85% of the total cryptocurrency market cap. The cryptocurrency's market cap reached its highest value of $569.58 billion in the past.

Over the past seven days, Ethereum has seen a 12.03% increase in value, trading in a range of $1,825.60 to $2,108.79. However, despite this recent surge, Ethereum is still down 56.65% from its all-time high of $4,864.06, which was set on November 10, 2021.

In other cryptocurrency news, Bitcoin also experienced a gain, trading at $30,743.3 on the Index, up 2.54% on the day. Meanwhile, Tether experienced a loss of 0.01%, trading at $1.0002 on the same index. Bitcoin's market cap was at $595.05 billion or 46.65% of the total cryptocurrency market cap, while Tether's market cap was at $80.84 billion or 6.34% of the total cryptocurrency market value.

Cryptocurrency markets have seen significant volatility over the past few years, with Ethereum and Bitcoin among the most well-known cryptocurrencies in the market. However, they have faced a number of challenges such as regulatory concerns, market fluctuations, and concerns over environmental sustainability. Despite this, there is still significant interest in cryptocurrency as a means of investment, and market analysts will continue to watch the cryptocurrency market closely.

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