Ethereum’s (CRYPTO: $ETH) price jumped 10% higher on June 15 and is now trading at $1,800 U.S. as investors return to cryptocurrencies with the price of crude oil dropping. 

The 10% increase in Ethereum’s price on June 15 was the largest one-day percentage gain for the second largest digital asset since Feb. 25 of this year. 

The latest rally has pushed Ethereum’s market capitalization up to $219.60 billion U.S. However, that’s less than half of Ethereum’s peak market capitalization of $583.89 billion U.S.

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Ethereum’s trading volume over the past 24 hours totaled $16.19 billion U.S., or 18.69% of the total volume of all cryptocurrencies. 

The rally was sparked by news that the U.S. and Iran have reached an agreement to reopen the Strait of Hormuz shipping route, causing crude oil prices to fall below $80 U.S. a barrel. 

Some analysts and crypto leaders, including Coinbase Global (NASDAQ: $COIN) CEO Brian Armstrong, are now calling a bottom in digital assets. 

However, at its current price, Ethereum is still down 63% from its all-time high of $4,955.90 U.S. reached on August 24 of last year.

ETH has struggled in recent weeks to stay above the key support level of $2,000 U.S.