Quick Stats
- Ethereum (ETH): $2,707, +4% (24H)
- Binance Coin (BNB): $704, +11.8% (24H)
- Bitcoin (BTC): $96,500, +0.8% (24H)
- Overall Crypto Market: +0.6% (24H)
The broader crypto market rebounded on Tuesday, with Ethereum (ETH) and Binance Coin (BNB) leading the charge amid a wider recovery following last week’s price slump. The turnaround comes as investors reposition themselves, pushing key assets back into the green.
Ethereum and BNB Extend Gains as Market Sentiment Improves
Ethereum and Binance Coin continued their upward momentum in the past 24 hours, outpacing Bitcoin as the broader cryptocurrency market rebounded.
As of Thursday morning in Hong Kong, Ethereum (ETH) surged to $2,707, marking a 4% daily gain, according to Coingecko price tracker. However, ETH is still struggling to reclaim its January highs, where it briefly surpassed $3,700 before retracing.
Binance Coin (BNB) emerged as the best-performing asset among the top 30 cryptocurrencies, rallying 11.8% to reach around $704. Unlike many major assets that faced declines on Wednesday, BNB remained resilient, benefiting from strong ecosystem demand and positive sentiment surrounding Binance’s ongoing global expansion efforts.
Meanwhile, Bitcoin (BTC) climbed 0.8%, hovering above $96,500, after briefly surpassing the $98,000 mark earlier in the day. The overall cryptocurrency market rose 0.6%, indicating a wider price recovery across digital assets.
Eth and BNB Surge Amid ETF Speculation and Binance Ecosystem Growth
Ethereum’s rally above $2,700 appears to be fueled by renewed optimism surrounding institutional crypto adoption, particularly after Cboe filed for SEC approval to allow staking in the 21Shares Ethereum ETF, according to TheBlock.
According to Presto Research Analyst Min Jung, the Ethereum ETF filing could be a major catalyst, as it signals growing regulatory openness toward staking products in the U.S. financial system. The filing surfaced shortly after the SEC announced “Crypto 2.0”, a policy shift toward more balanced crypto regulations, marking a departure from the restrictive approach under former SEC Chair Gary Gensler.
Meanwhile, Binance Coin (BNB) extended its 10% gain to trade around $710, standing out as one of the few assets that posted positive returns while the broader market faced volatility.
Beyond technical market factors, BNB’s surge may have been influenced by Binance’s recent listings of memecoins like TST and CHEEMS, according to Presto’s Min Jung. Both tokens were added to Binance’s trading platform, leading to increased activity on the BNB Chain.
Additionally, Binance’s former CEO Changpeng Zhao (CZ) has been actively promoting the BNB ecosystem on social media, further driving trader interest.
BTC Markets analyst Rachael Lucas also described BNB’s movement as a “technical bounce”, following weeks of accumulation and resistance testing.
