Having overcome the four -year record of $ 4878, set in November 2021, Altcoin continued to grow sharply. However, later his course was also rapidly adjusted, and now the coin is traded at $ 4632. Now the ETH market capitalization has $ 559.3 billion, and the daily trading volume has grown by 88% to $ 55.7 billion.
The growth of the broadcast began after the statements of the chairman of the Federal Reserve (USA) Jerome Powell on a possible reduction in the interest rate. In addition, investors showed an unprecedented demand for spot exchange funds (ETF), tied to the ether. After the launch of these investment products last year, in August, in just one day they raised more than $ 1 billion. Companies that produce treasury bonds to buy ether also influenced the growth of coins. In particular, Bitmine Immersion has accumulated $ 7 billion broadcasts, and the SharPlink Gaming holds more than $ 3.6 billion in this cryptocurrency.
The foundation for the bull rally of the ether has created favorable regulation in the United States. The US Securities and Exchange Commission (SEC) has provided clear recommendations With regard to stakeing services, allowing suppliers of these services to pay remuneration without registration in the department. The adoption of the Genius law also clarified the rules for the release of stablecoins, which mainly work on the Ethereum blockchain.
Recently, the co -founder of the Ethereum Vitalik Buterin proposed to strengthen the decentralization of his network, adding additional channels of transaction activation.
Source: Bits
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