Ethereum (ETH) has jumped by more than 14% to reach a value not seen since July 2019. Ethereum now sits just north of $253, after climbing from around $220 just yesterday.

During this time, Ethereum has also racked up solid gains against Bitcoin (BTC), improving more than 9.5% against the number one cryptocurrency to achieve a value of 0.02475 BTC—a number also not seen since July last year.

Although this recent price action comes amidst a global market rally, which has seen practically every major cryptocurrency witness significant gains, there are several reasons people might be bullish on Ethereum right now. For one, a recent Reuters report indicates that American multinational investment bank JPMorgan Chase plans to merge its blockchain unit Quorum with ConsenSys (which funds an editorially independent Decrypt).

As a result of today's growth, Etherem added more than $3.5 billion to its market capitalization, and is now one of the fastest-growing altcoins. All in all, Ethereum is now up more than 71% in the last month, and doesn't appear to be showing signs of slowing down.

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