© Reuters
Ethereum’s market capitalization rose to $291 billion amid a broader cryptocurrency market rally. The decentralized finance platform’s native token saw a significant price increase, reaching around $2,351, marking a surge of more than 6.5% on Wednesday. This bullish trend coincides with the growing adoption of layer-2 scaling solutions such as Arbitrum and Optimism, which have seen gains of over 16% and 30% respectively, contributing to the expansion of the Ethereum ecosystem.
The total cryptocurrency market capitalization also saw a substantial increase, rising to $1.76 trillion after the market recorded an overall increase of 4.2%. This growth reflects increased investor interest in digital assets, with Ethereum leading the way.
On Thursday, Ethereum’s 30-day volatility hit a high of 70%, highlighting the dynamic and active nature of the market.
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