After painting the performance chart red all week to match Bitcoin price downward trend, Ethereum has returned. After dropping below $3,350, the Ethereum price has experienced a bounce back from the $3,050 area, with a rise of 12%. Exciting advancements are happening for Ethereum (ETH) investors in this scenario. What enabled the bulls to cause a price rebound in Ethereum. Let’s investigate further to discover more.
Ethereum Price Market Performance
As of today, the price of ETH stands at $3,518.73, showing a 12.04% rise over the past 24 hours. The trading volume in the last 24 hours dropped by 6% to reach a total of $32.8 billion. In spite of this, the second largest digital currency on CoinMarketCap shows a growth of 11.54% to $420.98 billion. This indicates that there is a powerful demand for buying pushing the price up, despite potentially lower trading volume in general. The ETH token currently has a circulating supply worth $120 million.
Reasons Behind Ethereum Price Rising
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