Despite being on the low for quite some time, Ethereum (ETH) was seen climbing up the price ladder.…

Despite being on the low for quite some time, Ethereum (ETH) was seen climbing up the price ladder. The cryptocurrency jumped from a low of $1,766 to a high of $2,620.90. This marked a massive spike of 41% throughout the past week. This uptick came as a major surprise to the community. Ethereum was one of the assets that barely saw any changes in its price during the past year. The last rise has brought respite to a wide range of investors. Can the largest altcoin continue this trend?

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Ethereum Garners Support Above $2,500

The Ethereum market enjoyed a notable spike during the past 24 hours. The asset jumped by nearly 1% and was trading at $2,544.25 at the time of writing. Even though ETH has grown by 60% over the last month, the altcoin is at a distance from its all-time high. The second-largest cryptocurrency is currently trading 47% below its all-time high of $4,891.70. This peak was attained about three years ago.

Ethereum even surpassed Alibaba and Coca-Cola to become the 39th-largest asset in the world by market value on May 12, according to the firm data tracker 8MarketCap. At press time, ETH’s market value was over $308 billion. In contrast, the market capitalization of Coca-Cola is $303.5 billion, with its shares trading at about $70. Alibaba’s market value is $303.7 billion, and its stock is now trading at around $125.

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Over 60% of Investors Pocket Profits

It looks like the Ethereum community managed to bag a notable chunk of profit along the way. The asset’s latest increase in price pushed the total percentage of addresses in profit over 60%. It should be noted that just a month ago only 32% of ETH investors were in the green.

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