ETH Rally Gains Steam as Market Cap Rises to $500B
Ethereum price bounced back in the overnight session as investors remained optimistic about the ecosystem. ETH is trading at $4,335, which is a record high. This brings the year-to-date gains to more than 480%, bringing its total market cap to more than $500 billion. The strong performance has also pushed the Ethereum Classic price up by more than 5%.
Ethereum news: Ether price surged, helped by the robust performance of the Decentralized Finance (DeFi) market. The total value locked in the ecosystem has surged to almost $90 billion, which is an excellent performance based on the fact that it was not in existence a few years ago. Maker, Aave, and Compound TVL has surged to more than $10 billion while more than 17 projects have a TVL of above a billion dollars.
ETH price is also rising as investors wait for the latest inflation numbers from the United…