Ethereum gains ground as risk appetite rebounds

Most major cryptocurrencies climbed on Thursday, supported by improving risk sentiment following positive developments in global trade talks involving the United States.

Trade tensions eased after the US and Japan reached a tariff agreement, alongside encouraging signals of progress in negotiations between the US and the European Union.

Adding to market focus, President Donald Trump announced plans to visit the Federal Reserve later today — a rare and confrontational move in his ongoing pressure campaign against Fed Chair Jerome Powell. This would be the first visit of its kind by a sitting US president in nearly two decades.

Meanwhile, a private survey by S&P Global revealed a notable pickup in US business activity. The composite PMI rose to 54.6 in July’s preliminary reading from 52.9 in June — the highest level in seven months. The services PMI also jumped to 55.2 from 52.9, while the manufacturing PMI fell to 51.2 from 53.1, signaling slower output growth.

In labor data, the US Department of Labor reported that jobless claims remained low, with initial unemployment claims falling to 217,000 for the week ending July 19 — a drop of 4,000 from the previous week and better than expectations of 227,000.

Ethereum

As of 20:51 GMT, Ethereum (ETH) was up 3.9% on CoinMarketCap, trading at $3,746.1.