Over the past couple of hours, Ethereum (ETH) and Bitcoin (BTC) recorded an increase of over 6 percent in its price, and its trading volumes also experienced a sudden spike. Bitcoin (BTC) and Ethereum (ETH), the two most valuable digital currencies in the world based on market cap, were deep in the red over the past week, and the coins tested new lows of the year last week.
However, there has been a bullish trend in the market that has helped the coins to surge over their lows, as they are now swimming in the green. A few hours ago, the trading volume of BTC increased by more than one billion dollars while that of Ethereum increased by about 20%.
Ethereum Price Today: Current Price of ETH
At the time of writing, Ethereum is trading at $480 after an increase of about 7 percent over the last twenty-four hours. The digital currency now has a market cap of $48.21 billion and a trading volume of $1.77 billion over the last twenty-four hours.
Trading Volumes are Coming Back
A few hours ago, there was a report form CCN that the next twenty-four hours would be vital to the digital currency market, and it will define the trend of key digital currencies including Ethereum and Bitcoin all through the week.
Bitcoin’s trading volume is now $4.61 billion from $3 billion and that of Ethereum has recovered to $1.77 billion from $1 billion. This increase in the twenty-four hours trading volumes of the top digital currencies in the market indicates an increase in the stability of the market.
According to reports, the bullish trend in the market over the past couple of hours, as well as the next twenty-four hours, will likely determine the price pattern of Ethereum and Bitcoin all through the week. If the bulls are still in charge of the market for the next twenty-four hours, then Ethereum might test the $520 mark by the end of this week.