Why is Ethereum (ETH) worth up in the present day?

Ethereum’s native token, Ether (ETH), rallied on March 13 after the U.S. regulators shored up wavering confidence within the banking sector led by the shutdown of $209 billion Silicon Valley Financial institution (SVB) and $110 billion Signature Financial institution (NASDAQ:).

Ether’s worth rose over 3% to round $1,635, its highest stage in nearly two weeks. The beneficial properties got here as part of the token’s broader rebound transfer that noticed it rallying almost 20% from its March 10 low of $1,369.

ETH/USD day by day chart

ETH/USD weekly chart

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