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Ether surges 10%, leading crypto rebound as ETF demand, Bitmine buying pick up

Ether surges 10%, leading crypto rebound as ETF demand, Bitmine buying pick up

Ethereum’s ether (ETH) is stealing the spotlight in Monday’s crypto rally, climbing to a six-week high as investor demand show signs of return to the second-largest digital asset after months of bruising declines.

Ethereum’s native token, ETH, rose to above $2,300, gaining more than 10% over the past 24 hours. That easily outpaced bitcoin’s 3% advance and the CoinDesk 20 Index’s roughly 5% gain, signaling a shift in momentum toward assets beyond bitcoin.

The move comes after a torrid stretch for the broader crypto market, including ether. With the rebound, ETH is still down more than 50% from its August record high and, at one point, had fallen roughly 65% from its peak during the market’s winter slide.

Prices have stabilized in…

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