Investment
Bitcoin And Ether Hit Highest Levels Since May 2021
Ether increased as much as 6.9% to $3,145, gaining for a fourth day amid the Ethereum network’s London upgrade, which reduces the pace of growth in the coins. Bitcoin and Ether reached their highest levels in more than two months after a major Ethereum upgrade and despite uncertainty over crypto rules in the U.S. infrastructure plan.
Bitcoin gained as much as 4.1% to $44,463 on Saturday, its highest level since May 18. Ether increased as much as 6.9% to $3,145, gaining for a fourth day amid the Ethereum network’s London upgrade, which reduces the pace of growth in the coins
“A mood of optimism appears to have returned to cryptocurrency markets,” Paolo Ardoino, chief technology officer at Bitfinex, said in comments Friday. “Bitcoin is leading the charge while Ethereum continues to make gains” after its network upgrade. Still, he said, “the turbulence that we’ve seen in crypto markets over recent weeks is unlikely to subside.”
Cryptocurrencies are showing signs of life again after pulling back significantly from record highs in recent months, a setback blamed on concerns about China’s crackdown and Elon Musk-fueled questions about Bitcoin’s energy usage.
Bitcoin, however, is approaching its 50-day moving average, a mark it hasn’t touched since May 26. And Ether is over $3,000 again, after its first run above that level lasted for just a couple of weeks.
One factor still creating uncertainty: The U.S. infrastructure bill currently making its way through Congress, which has dueling amendments that address reporting requirements for crypto transactions and tax collection. The bipartisan group that drew up the legislation was counting on the extra tax revenue generated to help pay for some of the bill’s costs.
Still, that isn’t stopping momentum in crypto, the market value of which has risen by about 10% in the past 24 hours to $1.89 trillion, according to CoinGecko.com. Other tokens like Binance Coin, Cardano, XRP and Dogecoin are also rallying.
-
Dossier3 weeks agoDossier, 2026
-
Insurance2 months agoLiva Insurance Supports Community Wellness Through “Experience Oman – Muscat Marathon 2026”
-
OER Magazines2 months agoOER, January 26
-
Interviews2 months agoEXCLUSIVE INTERVIEW: TLS Rebranding Marks Strategic Leap Toward Innovation, Sustainability & Growth
-
Alamaliktistaad Magazines2 months agoAl-iktisaad, January 26
-
Banking & Finance3 weeks agoNational Finance Unveils Exclusive Ramadan Offers on Auto Financing
-
Banking & Finance3 weeks agoSohar International and Sohar Islamic Supports Over 100 Families in Al Wusta Governorate Through Its ‘Sohar Al Attaa’ Initiative
-
Banking & Finance2 months agoA New Platform for SME Growth: Oman Arab Bank Unveils Tumouhi
