Ethereum bounces back as market dominance recovers from all-time low
Ethereum's price surged nearly 15% in 24 hours, surpassing $1,800 on April 23, following a period of low performance. This increase has helped boost Ethereum's market share after it hit record lows. Ether has recovered almost 30% since its April 9 crash to $1,400, with analysts suggesting the worst may be over. Market sentiment improved partly due to Paul Atkins' confirmation as chair of the US Securities and Exchange Commission. Ethereum's market dominance had fallen to 7% on April 22 but rebounded above 7.5% after the price increase. Analysts noted that the market was heavily shorted, leading to a squeeze, and Ethereum was technically oversold, setting the stage for a rebound. Upcoming upgrades are also seen as a fundamental catalyst for the price movement.
