Ethereum Gains 12%, Bitcoin Hits $20K as Crypto Market Cap Tops $1 Trillion

The price of Bitcoin surpassed $20,000 for the first time in weeks, Ethereum rose above $1,500 for the first time since the post-merge turmoil, and the whole market surpassed $1 trillion after three weeks below that threshold. These price increases indicate a recovery in the cryptocurrency industry.

According to data from CoinGecko, the price of one bitcoin has increased by 5% so far today to $20,322. The site claims that today is the first day since October 7 that the price of the most popular cryptocurrency has above $20,000, after weeks of just little movement under that threshold.

Ethereum's price has increased significantly today, rising 12% in the last day to $1,500. This is the first time Ethereum has surpassed the $1,500 level since September 15, when the price of ETH sharply dropped after the network's successful merge upgrade. It increased marginally to $1,507 before falling.