Global crypto market market capitalization has increased by 2.97% in the past day to $1.68 trillion. Bitcoin is the most traded crypto by trading volume and m-capitalization. Bitcoin was quoted at $41,607.
Ripple, Tether and Cardano were also among the cryptos that traded in the green with gains of between 0.05-1.6%. Filecoin was the strongest, while Chainlink and Ethereum Classic were lower.
After a major software update on Thursday, Ether crypto saw some traction. On an intra-day basis, the cryptocurrency saw a surge of more than 4 percent. Ethereum was last trading at $2868. The Ethereum Improvement Proposal 1559, also known as the adjustment, will see the reform of how transactions are processed on the Ethereum network. The upgrade will primarily result in stabilization of transaction fees. It will also reduce Ether crypto supply, making it more valuable.
Mudrex, a global algorithm-based crypto trading system on positive momentum in cryptos, Edul Patel, CEO and co-founder said that ‘Ethereum rallied and traded volumes exceeding Bitcoin speaks to the positive momentum within the largest Altcoin. The crypto community was pleased with Ethereum’s most recent upgrade. He added that trade volumes had increased dramatically.
Digital tokens such as Terra, Uniswap and Polkadot are up to 20% on a weekly basis.