Ethereum reaches levels unseen since soon after the merge as the wider crypto market takes a break from the doldrums.
In brief :
- Bitcoin is back above $20,000 today, while ETH hit $1,500 for the first time since shortly after September’s merge.
- Overall, the market is up 6% today and is back above $1 trillion again.
The cryptocurrency market is rebounding today as the price of Bitcoin topped $20,000 for the first time in weeks, Ethereum rose above $1,500 for the first time since the post-merge fallout, and the overall market topped $1 trillion after three weeks under that mark.
Bitcoin is currently up 5% on the day to a price of $20,322, per data from CoinGecko. Today marks the first time that the leading cryptocurrency’s price has topped $20,000 since October 7, according to the site, following weeks of relatively modest movement under that mark.
However, Ethereum is popping much higher today, up 12% over the past 24 hours to a current price of $1,500. It rose slightly higher to $1,507 before dipping, and marks the first time that Ethereum has reached the $1,500 milestone since September 15, when the price of ETH fell significantly following the network’s successful merge upgrade.
All told, the entire cryptocurrency market now has a total market cap of $1.03 trillion, per CoinGecko, up over 6% today. It’s the first time that the market has hit the $1 trillion mark since October 4.