The cryptocurrency market is experiencing a surge, with altcoins joining Bitcoin in a 7.5% increase and adding over $150 billion to investors. Ethereum has led the way, gaining 8% and surpassing the $1,800 level, with eyes on reaching $2,000.

The US SEC has acknowledged Grayscale's application to convert its Ethereum Trust into a spot Ethereum ETF, potentially leading to a surge in trading volume. Other top cryptocurrencies, including Cardano and Dogecoin, have also seen gains, while Solana remains steady after significant weekly gains.