Ethereum price breaks through the $2,000 level

Against a broad market upturn, the second-largest cryptocurrency tested the $2,000 level for the first time since July.

At the time of writing, the asset was trading around $2,027, with a market capitalization of about $237 billion. The rise over the last 24 hours stood at 6.2%, according to CoinGecko.

The Ethereum fear and greed index points to broad market optimism:

Gas prices on the network of the second-largest cryptocurrency have risen significantly.

One possible trigger for the pump could be the filing to register a spot Ethereum-ETF by BlackRock (iShares Ethereum Trust).

BlackRock has made first step towards filing for a spot Ether ETF. I just confirmed on the website myself. Nice catch by @SummersThings https://t.co/mLKIhKdiI6

— Eric Balchunas (@EricBalchunas) November 9, 2023

Global market capitalization at the time of writing stands at $1.45 trillion. Ethereum’s share is 16.1%.

Earlier, the price of Bitcoin broke through the $37,000 level.