The post Why Ethereum (ETH) Price is Up Today? appeared first on Coinpedia Fintech News
Ethereum (ETH), the leading layer one (L1) blockchain with over $32 billion in total value locked (TVL), has registered notable growth in the recent past, amid the spot Bitcoin exchange-traded funds (ETFs) frenzy. In the past five days, Ethereum’s price has surged more than 16 percent to reach a new two-year high of around $2,610 during the early Asian session on Thursday.
Following the 10 percent spike in the past 24 hours, Ethereum’s daily average trading volume has surpassed that of Bitcoin by a significant margin. According to the latest market data, Ethereum has an average trading volume of about $45 billion compared to $40 billion for the flagship coin.
Top Reasons Why Ethereum Price Surged
Spot ETF Frenzy
The approval of 11 spot Bitcoin ETFs by the United States Securities and Exchange Commission (SEC) has dramatically paved the way for mainstream adoption of web3 industry and digita
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