Bitcoin is surging on a sharp rise in volume, triggering a crypto market rally that hasn’t been seen in months.
Nano is currently up more than 13% at $2.96, according to the latest numbers on CoinMarketCap. EOS, NEO, Tron and Monero are all up approximately 8%.
The total cryptocurrency market cap has jumped more than 4%, and currently stands at $292 billion.
As reported by The Daily Hodl, Bitcoin’s price exuberance reflects a number of positive cryptocurrency developments in recent days:
- The new CEO of Goldman Sachs is bullish on crypto.
- Billionaire Steve Cohen is investing in a new crypto hedge fund.
- The world’s largest asset manager BlackRock is also exploring a possible entry into cryptocurrency markets.
- Coinbase has been cleared to operate as a broker-dealer and can now offer crypto securities.
The US House of Representatives has also scheduled a pair of hearings on cryptocurrency that begin tomorrow. ‘The Future of Money: Digital Currency’, the hearing held by The Financial Services Committee, will focus on “the extent to which the United States government should consider cryptocurrencies as money and the potential domestic and global uses for cryptocurrencies. The Subcommittee will evaluate the merits of any uses by central banks of cryptocurrencies, and discuss the future of both cryptocurrencies and physical cash.”
In addition, the House Agriculture Committee will hold a hearing of its own called ‘Cryptocurrencies: Oversight of New Assets in the Digital Age.’
A statement on the House website says this hearing will shed light on the “promise of digital assets and the regulatory challenges facing this new asset class. Our committee has a deep interest in promoting strong markets for commodities of all types, including those emerging through new technology.”
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin or cryptocurrency. Your transfers and trades are at your own risk. Any losses you may incur are your responsibility. Please note that The Daily Hodl participates in affiliate marketing.