Ethereum rises more than 2%, as crypto market reaches 5-month high

Ethereum price rose by more than 3% in spot trading today, continuing its gains for the second day in a row, with most of the major currencies in the market led by Bitcoin, with total market capitalization reaching five months peak as investment demand continued to improve and new investors entered the market.

As of 13:40 GMT, Ethereum is trading around $175.10, up by $ 3.70, or 2.2% from the opening price of $171.40, with the highest at $177.07 and the lowest at $170.25.

Ethereum gained 1.1% yesterday, its first gain in four days, as demand for the world's second largest cryptocurrency once again got boosted.

The total market value of cryptocurrencies on Tuesday rose by about $5 billion to $186 billion, the highest level since November 2018, with the strong rise by most of the major cryptocurrencies in the market.

Most of the majors in the market continued to rise, led by Bitcoin, which recorded a five-month high of $5,600 per coin, with a bull market run dominating the largest cryptocurrency in the world trades.

The atmosphere is currently very positive in the crypto market, which is reflected in the increase in the total market value of the cryptocurrencies to the highest level in five months, in a new sign confirming the continuation of the bullish trend that started in the market since the beginning of April.

The Bitcoin's rise currently drew support from some news reports about Bitcoin futures contract getting an official offering in Nasdaq, as the online platform TD Ameritrade confirmed that traders with accounts with a minimum of $25,000 would be allowed access to the Bitcoin's Futures contracts.

Last year, Nasdaq announced that it was considering the offering of Bitcoin's futures contracts during the first quarter of this year, as well as the launch of the Bitcoin's exchange-traded fund (ETF) in cooperation with the Van Eck and SolidX.