Cryptocurrencies
Ether Leads Crypto Market Surge After CPI Report Release
- Ether broke past the $1,800 level, with the Merge upcoming
- The CPI report helped drive prices upward in the session
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Cryptocurrencies surged on Wednesday after a softer-than-expected inflation report, with Ethereum leading the pack with a greater-than-7% gain.
Ether’s native token, the second-largest cryptocurrency by market capitalization, rose around 8% to trade at $1,828 as of 10:17 a.m. in New York. Bitcoin added 3.5% to $23,950, and other altcoins like Polkadot and Avalanche also rallied, up 6% and 8%, respectively. An index of 100 of the largest digital assets was up 4.4%.