Ethereum’s native token, Ether (ETH), rallied on March 13 after the U.S. regulators shored up wavering confidence in the banking sector led by the shutdown of $209 billion Silicon Valley Bank (SVB) and $110 billion Signature Bank (NASDAQ:).
Ether’s price rose over 3% to around $1,635, its highest level in almost two weeks. The gains came as a part of the token’s broader rebound move that saw it rallying nearly 20% from its March 10 low of $1,369.
ETH/USD daily chart
ETH/USD weekly chart