Hassan Maishera
TL;DR
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Ether has continued its rally and is now trading above $3,900 per coin.
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It has outperformed the other major cryptocurrencies after rallying 25% in the last seven days.
ETH Trades Above $3,900 After a 4% Rally
ETH, the native coin of the Ethereum blockchain, is the best performer amongst the top 10 cryptocurrencies by market cap. ETH is up by 4% in the last 24 hours and is now trading above $3,900 per coin.
This is the first time ETH is trading above $3,900 since March. It also means that Ether is 20% away from the all-time high of $4,891 it achieved in November 2021.
The rally comes as investors continue to be excited about the possibility of Ether spot exchange-traded funds (ETFs) trading on exchanges. Last week, the US Securities and Exchange Commission approved the exchange listings of spot Ether ETFs, indicating that the products might begin trading later this year.
Over the last seven days, Ether has outperformed Bitcoin, Solana, and other major cryptocurrencies. It added 25% to its value, making it the best performer amongst the top 10 cryptocurrencies by market cap.
Bitcoin, the world’s leading digital currency by market cap, continues to underperform and is currently trading at $68,500 per coin. It has lost less than 1% of its value over the weekend.
The total cryptocurrency market cap added 0.5% to its value so far today and now stands at $2.57 trillion.
