Ethereum (ETH) the #2 largest cryptocurrency by market capitalization, has shown tremendous resilience in the face of recent market turbulence when BTC dropped below $50,000.
With a substantial market valuation of $315 billion and a daily trading volume of $25B, Ethereum continues to assert its significance in the cryptocurrency landscape despite recent global market meltdown.
Despite this impressive rebound, Ethereum finds itself in a challenging position relative to Bitcoin. Looking ahead, Ethereum bulls face a potentially challenging landscape as the crypto industry braces for what historically have been bearish months in August and September.
As of now, at the time of writing this article, ETH is trading around $2,620 and has gained 1.5% in the past 24 hours and has a total market capitalization of $315.31 Billion.