Ethereum (CRYPTO: ETH) traded nearly 6% higher on Wednesday night and moved past the psychologically important $2,000 level.
What Happened: ETH was up 5.8% over 24 hours at $2,017.84 over 24-hours at press time. The second-largest cryptocurrency by market cap traded 11.83% lower over a seven-day trailing period.
See Also: How To Buy Ethereum (ETH)
ETH gained 4.43% against Bitcoin (CRYPTO: BTC), the apex cryptocurrency by market capitalization.
The market dominance of ETH hovered around the 17.4% mark on Wednesday night, while that of BTC was at a 45.5% level.
Why It Matters: Ethereum plunged on Tuesday and fell below the $2,000 level. Over the course of 24-hours, it touched a low of $1,869.22 and a high of $2,037.74.
ETH’s decline this week comes ahead of a much-awaited hard fork dubbed “London” that is likely to take place on August 4.
The second-largest coin’s fall did not occur in isolation. It has charted the recovery back to above the $2,000 level in sync with other major cryptocurrencies like BTC and Dogecoin (CRYPTO: DOGE) also trading in the green at press time.
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