Ethereum has been recovering for a few days now, and in the last 24 hours alone the cryptocurrency is up by 20%. After hitting a $134.21 low this month, Ethereum has recovered to $237 today, effectively reaching the value it had last week before the price dropped.Ethereum’s market cap is currently at $20.90 billion, after showing gains superior to those of the top 15 cryptocurrencies, with only Qtum coming close to it with a 17% value increase in the last 24-hour period. Bitcoin’s market cap is currently at $38.18 billion but the number one cryptocurrency is down by 0.51% at press time.
The cryptocurrency ecosystem is seemingly bullish again, as its total market cap is of $83.36 billion. One of the reasons behind Ethereum’s recent surge is the Ethereum Enterprise Alliance (EEA), which recently just added 34 new members, turning it into the world’s largest blockchain consortium. As reported by CCN, an Indian state government and payments giant Mastercardare part of the EEA’s new additions
Ethereum Recovers Ground
Last month The Flippening, the scenario in which Ethereum would surpass bitcoin and become the number one cryptocurrency, looked like a real possibility before Ethereum’s value dropped and bitcoin recovered part of its dominance.
Now, Ethereum seems to be recovering part of its share, even though it’s still far below bitcoin. At press time, Bitcoin’s dominance is currently at 45.2%, while Ethereum’s is about 25%.