As global trade tensions gradually ease, it is interpreted that investor sentiment towards the virtual asset market has also improved.
The altcoin market is soaring, with Ethereum rising by nearly 10%.
According to data from CoinMarketCap, a global virtual asset market tracking site, as of 9 a.m. on the 11th, the price of Ethereum is trading at $2,578 (approximately 3.61 million won), showing an increase of 9.96% compared to the previous day. Compared to a week ago, it has risen by 40.63%.
At the same time, Dogecoin, regarded as a representative of meme coins, is trading at $0.25 (approximately 350 won), showing a surge of 21.78% from the previous day, and it has risen by 42.24% compared to a week ago. Additionally, Ripple is trading at $0.5, showing an increase of 5.42% compared to the previous day, while Solana is trading at $70.4 and has risen by 3.20% compared to the previous day, displaying a favorable trend in the altcoin market.
Recently, as the U.S. and the U.K. signed a trade agreement, there are signs that U.S.-originated trade tensions are gradually easing, and this is being interpreted as a recovery in investor sentiment towards the virtual asset market.
Moreover, Ethereum recently completed a major upgrade named 'Pectra.' This upgrade aims to reduce transaction fees and network congestion, which are disadvantages of the Ethereum network, and increase efficiency. It is also analyzed that investment demand is pouring in as the Pectra upgrade is complete.
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