{"id":594199,"date":"2025-05-10T13:09:20","date_gmt":"2025-05-10T11:09:20","guid":{"rendered":"https:\/\/mybroadband.co.za\/news\/?p=594199"},"modified":"2025-05-10T13:17:19","modified_gmt":"2025-05-10T11:17:19","slug":"second-biggest-crypto-coin-pumping","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/cryptocurrency\/594199-second-biggest-crypto-coin-pumping.html","title":{"rendered":"Second biggest crypto coin pumping"},"content":{"rendered":"\n<p>Ether led a broad cryptocurrency rally this week, heading for its strongest gains since 2021, bolstered by easing global trade tensions and optimism over a network upgrade.<\/p>\n\n\n\n<p>The second-largest digital token by market value jumped as much as 14% on Friday to $2,490, extending its weekly advance to nearly 33%. <\/p>\n\n\n\n<p>That marks its steepest weekly gain since 2021, when speculative excesses and low interest rates fueled the pandemic-era crypto boom.<\/p>\n\n\n\n<p>Bitcoin, the industry bellwether, climbed as much as 1.7% to $104,336, as sentiment improved across digital assets following a new trade pact between the US and UK. <\/p>\n\n\n\n<p>The agreement signals a thaw in global economic relations after a period of escalating tariffs under President Donald Trump, which had rattled risk markets.\u00a0<\/p>\n\n\n\n<p>\u201cMomentum is strong and could persist,\u201d said Valentin Fournier, lead research analyst at BRN. \u201cThe new breakout and policy support are likely to draw in new buyers.\u201d&nbsp;<\/p>\n\n\n\n<p>The rebound in Ether also reflects renewed investor focus on Ethereum\u2019s ongoing technological upgrade. <\/p>\n\n\n\n<p>The network, widely regarded as crypto\u2019s commercial backbone, recently implemented the Pectra upgrade. <\/p>\n\n\n\n<p>The changes are designed to reduce transaction fees, improve network efficiency, and enable more complex wallet functionalities \u2014 moves seen as necessary to fend off competition from faster-growing rivals like Solana.<\/p>\n\n\n\n<p>Liquidations in bets on crypto assets have soared in the lead-up before Bitcoin broke $100,000 on Thursday, with over $1.1 billion in the past 24 hours.<\/p>\n\n\n\n<p>The liquidation in short positions on Wednesday is the highest since at least Nov. 10 at $836 million, according to data compiled by Coinglass. Liquidations in bearish bets against Ether contributed $290 million over the last day.<\/p>\n\n\n\n<p>Such liquidations tend to spur crypto prices higher as short sellers usually rush to buy to cover their positions.<\/p>\n\n\n\n<p>Short-dated Bitcoin options remain hedge-focused, with puts expiring on May 30 at the strike of $65,000, are seeing the second highest open interest, followed by calls at the strike of $100,000, according to data from the largest crypto options exchange Deribit. <\/p>\n\n\n\n<p>Contracts across all tenors reflect a bullish outlook.<\/p>\n\n\n\n<p>Despite the recent rally, Ether remains down roughly 50% from its all-time high reached in November 2021, continuing to lag behind Bitcoin and other top-performing digital assets. &nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"814\" height=\"457\" src=\"https:\/\/mybroadband.co.za\/news\/wp-content\/uploads\/2025\/05\/Ether-rally-new_Bloomberg.jpg\" alt=\"\" class=\"wp-image-594203\" srcset=\"https:\/\/mybroadband.co.za\/news\/wp-content\/uploads\/2025\/05\/Ether-rally-new_Bloomberg.jpg 814w, https:\/\/mybroadband.co.za\/news\/wp-content\/uploads\/2025\/05\/Ether-rally-new_Bloomberg-600x337.jpg 600w, https:\/\/mybroadband.co.za\/news\/wp-content\/uploads\/2025\/05\/Ether-rally-new_Bloomberg-768x431.jpg 768w\" sizes=\"(max-width: 814px) 100vw, 814px\" \/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Ether led a broad cryptocurrency rally this week, heading for its strongest gains since 2021, bolstered by easing global trade tensions and optimism over a network upgrade.<\/p>\n","protected":false},"author":341034,"featured_media":594202,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[44696],"tags":[187,99841,43338,42124],"class_list":["post-594199","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bitcoin","tag-cryptocurrecny","tag-ether","tag-ethereum"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/594199"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/341034"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=594199"}],"version-history":[{"count":3,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/594199\/revisions"}],"predecessor-version":[{"id":594209,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/594199\/revisions\/594209"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/594202"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=594199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=594199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=594199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}