With interest rates set to be lowered in the U.S., a continuing surge of crypto treasury companies and the deal sealed on the SEC dropping its case against Ripple, money is pouring into altcoins over the past 24 hours.
Not the largest gainer, ether (ETH) has jumped 3.5% over the past 24 hours and pushed above $4,000 for the first time since December. The globe’s second-largest crypto is now higher by 25% year-to-date and 112% year-over-year.
As for the world’s leading crypto, bitcoin (BTC) is essentially flat over the last day at $116,800. Taken together with the ether move, the closely-watched ETH/BTC ratio has risen 3% in the past hour and is now up 42% over the last month. Bitcoin, however, is doing just fine over longer period, with the ETH/BTC ratio down 4% year-to-date and 20% year-over-year.
A check of some other alts finds XRP (XRP) higher by 9% over the past 24 hours, SOL (SOL) 3.5% and dogecoin (DOGE) 5.3%.
Ether treasury company stocks are moving as well: Bitmine Immersion (BMNR) is higher by 13% on Friday and Sharplink Gaming (SBET) 4%.