The cryptocurrency market experienced a significant boost with Ethereum (ETH) reclaiming its position as the world’s second-largest asset by market cap, exceeding $340 billion on June 10, 2025. This surge marks a notable jump from $328 billion just one day prior, representing a 5% increase in value within 24 hours. The rise follows a strong rally throughout May fueled primarily by the successful implementation of the Pectra network upgrade, which improved Ethereum’s speed, usability and transaction handling capabilities. This upgrade propelled Ethereum’s market cap past major global corporations like Coca-Cola and Alibaba, leading to its peak value of nearly $308 billion in mid-May. 24 hours later, ETH continued to see positive movement with the price hovering near $2,690, representing an 8% daily gain fueled by renewed enthusiasm among both retail and institutional investors. Trading volumes surged as well, with Ethereum moving over 560,000 coins worth approximately $1.5 billion on June 10 alone, signaling significant market participation. This surge in liquidity coincides with record-high futures open interest, indicating bullish sentiment amongst large traders and whales.