©Reuters
The market capitalization of has soared to $291 billion as part of a broader cryptocurrency market rally. The decentralized finance platform’s native token saw a significant increase in price, reaching around $2,417, representing an increase of over 8.9% on Wednesday. This bullish trend coincides with the growing adoption of Layer 2 scaling solutions such as Arbitrum and Optimism, which saw gains of over 16% and 30% respectively, contributing to the expansion of the Ethereum ecosystem.
The total cryptocurrency market capitalization also saw a substantial rise, reaching $1.76 trillion after the market saw an overall increase of 4.2%. This growth reflects increased investor interest in digital assets, with Ethereum leading the way.
Ethereum’s 30-day volatility hit an all-time high of 70% on Thursday, highlighting the dynamic and active nature of the market.
This article was generated and translated with the help of AI and reviewed by an editor. For more information, see our T&Cs.