Ethereum Surges 10.61%, Hits $1,583 Amid Market Rebound

Ethereum saw a strong rally early Tuesday, jumping 10.61% to $1,583.31 by 02:04 ET (06:04 GMT) on the Investing.com Index. This marks its biggest one-day percentage gain since March 2, signaling a potential shift in momentum despite recent market volatility.

The surge boosted Ethereum’s market capitalization to $191.87 billion, accounting for 7.59% of the total crypto market value. Still, it remains significantly below its all-time high market cap of $569.58 billion.

Over the past 24 hours, Ethereum traded between $1,543.82 and $1,618.47, showing a relatively tight range following the sharp increase. However, the broader seven-day performance remains negative, with ETH down 13.67%. During that week, it fluctuated between $1,422.80 and $1,953.57, reflecting high volatility across the crypto sector.

Ethereum’s 24-hour trading volume reached $41.57 billion, representing 21.87% of total crypto trading activity. Despite the recent bounce, ETH is still down 67.45% from its all-time high of $4,864.06, recorded on November 10, 2021.

In the broader crypto market, Bitcoin also rallied, rising 6.56% to $79,649.00, with a dominant market cap of $1.58 trillion—62.63% of the total crypto market. Meanwhile, Tether (USDT) held steady at $0.9998, reflecting a modest 0.07% gain, with its market cap at $144.15 billion or 5.70% of total market value.

Ethereum’s sharp uptick, alongside gains in Bitcoin, suggests renewed investor interest. As markets react to broader macroeconomic signals, traders will be watching closely for sustained momentum or a potential retracement.