Ethereum Rallies 10% to $1,800 as Coinbase CEO Urges Rule Overhaul
COIN•Ethereum surged 10% to $1,800 on June 15, its largest one-day gain since February, driving market capitalization to $219.6 billion and 24-hour volume to $16.19 billion. Coinbase CEO Brian Armstrong urged comprehensive US investment law reforms to reduce compliance burdens and said digital assets have likely bottomed.
1. Ethereum's 10% Surge
Ether price jumped 10% on June 15 to $1,800, marking its largest one-day gain since February. The rally followed news of a US-Iran accord to reopen the Strait of Hormuz, driving crude oil below $80 a barrel and boosting crypto demand.
2. Market Capitalization and Volume
The rebound raised Ethereum's market capitalization to $219.6 billion, up from under $200 billion, while 24-hour trading volume hit $16.19 billion, accounting for nearly 19% of total cryptocurrency turnover. Despite the rally, Ether remains down 63% from its peak of $4,955.90.
3. CEO Sees Crypto Bottom
Coinbase CEO Brian Armstrong declared that current digital asset levels likely represent a market bottom, reflecting renewed investor confidence. His comments underline growing sentiment that major cryptocurrencies have stabilized.
4. Push for Investment Law Overhaul
Armstrong criticized existing investment regulations as outdated and privileging wealthy players, urging comprehensive US law reforms. He argued that modernized rules would lower compliance costs and broaden access for everyday investors.
