Ethereum gains more than 10{354c91d6c770f51e2d958086b609baaa0554bba184b320adf9922a4fa7c1531f} to surpass $360 levels

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Ethereum

Ethereum has finally shown upward movement over the last couple of days with the cryptocurrency reaching a high of $371 before settling above the $360 levels.

The price surge of over 10{d0fd1c7f03312cdbde7b5dce5e26cfecaabc8ba26c81c7be42bb4001702752ce} today also helped the digital currency trading levels remain above the $1 billion mark with a market cap of above $4 billion. The surge in price, trading volume as well as the market cap indicates that outside investors may have played a major role though it hasn’t been confirmed yet.

After being stable at $300 levels for weeks, ethereum finally rose by around $30 a couple of days back to $330 and subsequently a jump of $30 today saw the cryptocurrency breach $360 levels.

Though there have been nothing negative that held ethereum back, the issue was that even good news didn’t help ethereum increase its prices and market share. Many believed that ethereum was going through a consolidation phase which may have finally ended. now.

Positive developments such as transaction volumes having doubled to more than half a million, almost maximum market cap, very low transaction fees and almost no congestion, and increased privacy thanks to some zk-Snarks of sorts may not have reflected through ethereum price surge, but it is believed that at a time when other cryptocurrencies fell, these developments helped ethereum stay sable.

Ethereum’s primary rival bitcoin was a lot volatile over the last few days, but it has stabilized in the past two days and is in fact increasing and reaching for another all-time-high, but whether it’s eth’s time to shine, remains to be seen.

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