English
Bitcoin and Ethereum Surge as Crypto Market Sentiment Rebounds
Cryptocurrencies recorded strong gains on Wednesday, as both Bitcoin and Ethereum posted significant upward moves driven by renewed investor interest in the digital asset space.
Bitcoin surged by 3.5%, adding over $3,600 in value within 24 hours, crossing the $109,000 mark. Meanwhile, Ethereum jumped more than 6%, trading above $2,570, supported by positive momentum across crypto-related equities.
Key companies contributing to this rally include:
BitMine Immersion Technologies, which saw its stock soar by 25% after announcing plans to include Ethereum in its treasury reserves. The stock has now gained over 1,000% since the strategy was revealed.
SharpLink Gaming, whose shares climbed more than 11% following the launch of a new Ethereum-based strategy.
Bit Digital, which rose by over 6% after it shifted away from Bitcoin mining and refocused on Ethereum-related financial instruments.
Industry analysts note a shift from speculative trading toward more practical use cases of digital assets, with stablecoins emerging as the first step in the tokenization of real-world assets.
In line with this trend, Ethereum ETFs have attracted over $40 million in inflows during June, led by BlackRock’s iShares Ethereum Trust, reflecting renewed investor confidence despite the broader challenges.
Ethereum's network continues to face pressure due to a decline in fee revenue post-upgrade, and growing competition from alternative blockchains like Solana. However, Ethereum’s role in supporting smart contracts and enabling the tokenization of traditional assets keeps it at the center of the digital economy’s future.
