Ether surges past $340 as part of Wednesday crypto rally

Ether surges past $340 as part of Wednesday crypto rally

Ether (ETH) has been one of the best performing major cryptocurrencies in an upbeat market that has seen its larger rival Bitcoin (BTC) rising to a 17-month high.

Ether enjoyed some positive trading yesterday, with its price rising steadily throughout the day. Having started the session at $310.68, the coin closed at an intraday high of $318.13. This was also Ether’s highest close in nearly 11 months.

Closing in on $350

Using this positive momentum, the coin managed to rise above its previous 2019 high ($318.57), which was set on Monday. Having broken through the $330 mark during the morning session, the coin captured the $340 mark in the early afternoon trading. The coin recently hit $348.71, which was its highest price level since August 10 2018. At the time of writing, the Ether price was hovering around the $345 mark, according to data from digital currency tracker Coinmarketcap.

Digital currency market rallies

Ether’s advance is part of a larger trend that has affected most of the major digital coins, including Bitcoin, XRP, Litecoin (LTC) and Bitcoin Cash (BCH). Bitcoin has been the best performing coin in the crypto top 10, having gained more than 13% over the past 24 hours. Earlier today, the original cryptocurrency rose to a 17-month high of $12,914.40. Other standout performers include Bitcoin Cash (6.8% gain), and Cardano (7% gain). The overall digital currency market’s value has grown by more than $35 billion and currently stands at just over $370 billion.

In today’s trading, the Ether price stood at $345.10, as of 16:28 BST. The digital currency has gained nearly 11% in the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at $36.8 billion, which makes ETH the second largest digital currency on the market.

Featured image: Sergey Nivens / Shutterstock.com

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