Ethereum Records Highest 24H Trading Volume In A Year, Crypto Market Surges

By Prashant Jha

Recently, the 24 hours trading volume of Ethereum hit the highest point it has ever reached in a year. According to statistics sourced from Coinmarketcap.com, more than five billion dollars worth of Ethereum has been traded in the crypto market over the past 24 hours. Besides being the first in this year, this represents a definite spike in interest in Ethereum, which also climbed back to the second spot according to market capitalisation a little while back.

After the latter part of the last year saw Ripple (XRP) take the second spot from Ethereum, Ethereum staged a solid comeback. These last 24 hours have seen other altcoins fare quite well as well. Most top cryptocurrencies, except Tether (USDT) are in the green at the time of writing. Ethereum has done quite well, clocking a 2.38 per cent rise in prices to reach $148.58.

Bitcoin itself has registered a 3.24 per cent surge to near the $4000 price mark. However, at the time of writing, it remains at $3,997.82, perhaps its best performance in a while. The trading volumes for Ethereum have been on an upswing for a while now. The beginning of January 2019 had also seen a major spike, marking a sharp recovery from the low point in November 2018 when its trade volume had nearly sunk below $1 billion.

In the past 24 hours, 5.48 billion dollars (24 hours since the time of writing) have been traded. Before this, the highest level recorded was on the 6th of February, 2018, when the trading volume reached $6.43 billion.

Out of the top ten cryptocurrencies, the highest surge was clocked by XLM or the Stellar cryptocurrency, with an 11.12% jump. Binance Coin registered a similar rise with 11.10%. Are good things on the card for the crypto market? We can sure be a little hopeful for a bull run soon.

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