Summary
Bitcoin and other major cryptocurrencies have experienced gains over the past week. Bitcoin’s price has risen by 11% to over $47,000 per coin, with experts attributing the surge to large investors and tech-focused investors entering the market. The approval of 10 Bitcoin exchange-traded funds earlier this year initially caused a dip in the price, but it has since recovered as money flows back into the asset. Ethereum’s price has also increased by nearly 9% to $2,498, and developers have set a date for an upgrade to the coin’s network. Solana, the fifth largest cryptocurrency by market cap, experienced a network outage but recovered with an 11% increase in price. On the other hand, Monero dropped nearly 28% after being delisted by crypto exchange Binance.
Key Points
1. Bitcoin and other major coins have experienced gains over a seven-day period, with Bitcoin’s price rising by 11% to over $47,000 per coin.
2. The surge in Bitcoin’s price is attributed to big investors accumulating more of the cryptocurrency this year and tech-focused investors showing interest in the digital asset market.
3. Ethereum’s price has also increased significantly, reaching $2,498, due in part to the announcement of an upgrade to the coin’s network on March 13, which aims to enhance its transaction handling capabilities.