RATE Group | Ethereum Leads Broad Recovery as Crypto Market Adds $10 Billion
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Ethereum Leads Broad Recovery as Crypto Market Adds $10 Billion

13 Sep Ethereum Leads Broad Recovery as Crypto Market Adds $10 Billion

Posted at 11:03h in Ethereum News by

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Major cryptocurrencies were in recovery mode on Thursday, led by Ethereum’s double-digit gain, as investors swept in to buy the market at yearly lows. However, the latest recovery has all the signs of a dead cat bounce, which means the bulls aren’t out of the woods yet.

Market Update

Digital currency values rebounded sharply on Thursday, with the overall market recovering $10 billion in lost market cap. The combined value of all cryptos in circulation reached $186 billion on Wednesday, a new low for the year, but has since recovered to around $196.4 billion.

In terms of percentage gains, Ethereum, Litecoin and Monero were the stand-out performers. Ether surged 12.2% to $193 after hitting 16-month lows on Wednesday. Litecoin jumped 11.7% to trade just below $54. Monero added 15% to $113.

Altcoins and tokens saw their share of the overall cryptocurrency market rise slightly to 43.4%, according to CoinMarketCap. Bitcoin, meanwhile, rose 3% to $6,463.

The market…

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