Ethereum retakes $140 on cryptocurrency market rally

Ethereum is on the up as the global cryptocurrency market witnesses a strong rally.

Ethereum (ETH) is back on the uptrend today after gaining 14% in the last 24 hours. The cryptocurrency now sits at $140.48 after climbing from as low as $123.25 just yesterday. It has added $2 billion to its market capitalization at the same time.

Although the vast majority of major cryptocurrencies are in the green today, Ethereum currently stands out as one of the best performers. Ethereum is currently outperforming more than half of the market but falls behind Bitcoin (BTC) and Tezos (XTZ).

Ethereum has also seen its trading volume gradually pick up in recent days, climbing from a March low of $10.5 billion changing hands each day last week up to more than $16 billion today.

Despite its recent bullish activity, Ethereum is yet to recoup many of the losses it incurred earlier this month—a time which saw the price of Ethereum crash from almost $250 down to $100 before flattening out.

It is now back up 40% from its lowest point in the last month.