India, July 16 -- Ethereum recorded strong gains surpassing Bitcoin's price gains even as the broader crypto market rebounded strongly into the overnight positive territory. Corporate adoption of Ethereum evidenced by the unabated flows to Ethereum Spot ETF products in the U.S. boosted sentiment. Better-than-expected levels of producer price inflation in the U.S. supported sentiment.
Overall crypto market capitalization has increased 1.2 percent in the past 24 hours. It is currently at $3.75 trillion. The 24-hour trading volume has decreased more than 20 percent overnight to $180 billion.
Bitcoin gained 0.79 percent overnight to trade at $118,523.35. It is currently trading 4 percent below the all-time-high of $123,091.61 recorded on July...