The crypto market started the week on a positive note
The world second largest cryptocurrency – Ethereum – went up more
than 4% on Monday, hitting an all-time high above $4,700. The crypto is
undergoing a significant upgrade, which investors hope, will make the network
faster and more environmentally friendly.
The latest step in its network came last month when an upgrade called
Altair went live.
At the same time, Bitcoin climbed 7% to
$66,250, slowly but surely decreasing from the $66,900 record set in late
October. Bitcoin’s movement followed the listing of the first US bitcoin
futures exchange-traded fund.
At that time, crypto enthusiasts praised the move as a sign
of growing acceptance for digital assets on Wall Street.
Moreover, Australia’s biggest bank announced it would offer
crypto trading to customers. Also, last week, the New York Mayor-elect, Eric
Adams, revealed that he will receive his first three paychecks in bitcoin and
signaled his intention to make the city the “center of the cryptocurrency
industry.’
Since the beginning of the year, Ether has been up around
59%, while Bitcoin gained approx. 51%.
Source: cnbc.com, reuters.com
