Stocks related to Ethereum reserves on the U.S. stock market have risen sharply, while the price of Ethereum approaches $3,200, reflecting increased interest in cryptocurrency and new legal policies.
During "Crypto Week", the U.S. Congress will consider three important bills aimed at reforming cryptocurrency policy, facilitating wider cryptocurrency adoption in financial institutions.
MAIN CONTENT
Ethereum-related stocks have risen sharply on the U.S. stock market.
The price of Ethereum reached nearly $3,200, increasing nearly 3% on the day.
The U.S. Congress is considering three important bills on cryptocurrency this week.
What does a sharp rise in Ethereum reserve concept stocks signify?
The high stock values of companies related to Ethereum reserves indicate that investment funds are strongly directed towards the cryptocurrency sector with sustainable foundations. According to a report from Zhitong Finance on July 16, stocks like GameSquare increased by over 40%, BTCS Inc by over 22%, Bitmine Immersion Technologies by over 15%, and Bit Digital and SharpLink Gaming also recorded increases from 11% to 12%.
This reflects a strong interest from institutional investors in Ethereum, creating positive growth momentum for the entire market and promoting the development of related blockchain technology.
"The growth of Ethereum reserve stocks marks a turning point that helps cryptocurrency become increasingly accepted by professional investors."
Josh, TPICAP Digital Asset Analyst, 16/7/2024
What does Ethereum's nearly 3% price increase mean for the cryptocurrency market?
Ethereum's price nearing $3,200, up nearly 3% on the day, indicates recovery and continued investor confidence in the leading coin after Bitcoin. According to market data, this is a key resistance level to determine the next upward trend.
The price increase helps consolidate Ethereum's position in the cryptocurrency ecosystem while facilitating Staking, Smart Contracts, and the development of many DeFi applications on this platform.
What will the three cryptocurrency bills in the U.S. Congress change?
This week, the U.S. House of Representatives will consider three important bills aimed at comprehensive cryptocurrency policy reform, with the primary goal of improving the legal framework, enhancing transparency, and promoting acceptance from major financial institutions. This is a significant step highly regarded by analysts for its feasibility and positive impact on the market.
Josh, an analyst at TPICAP, emphasized: "These policies will pave the way for cryptocurrency to gradually become a more regulated investment asset that fits better with the traditional financial community."
"The Congress's adjustment of the law is a turning point that helps increase confidence in cryptocurrency and expands its practical application in the United States."
Josh, TPICAP Digital Asset Analyst, 16/7/2024
Comparing the performance of Ethereum reserve concept stocks over the past week
Company Stock Code Percentage Increase (%) GameSquare GAME.US +40% BTCS Inc BTCS.US +22% Bitmine Immersion Technologies BMNR.US +15% Bit Digital BTBT.US +12% SharpLink Gaming SBET.US +11%
Frequently Asked Questions
What are Ethereum reserve stocks?
Ethereum reserve stocks are the stock codes of companies involved in Ethereum reserves or mining on the stock market.
Why does Ethereum's price rise when Ethereum reserve concept stocks increase?
The increase in Ethereum's price reflects market confidence and the inflow of funds into cryptocurrency, often in line with the growth of companies related to Ethereum reserves on the stock market.
What impact will the three cryptocurrency bills in the United States have?
These three bills aim to reform cryptocurrency policy, increase transparency, and lower legal barriers, helping cryptocurrency to be more widely adopted and stable in the United States.
How does the rise in Ethereum's price benefit investors?
The increase in ETH's price helps investors increase their asset value, while also promoting Staking activities and usage on the Ethereum Blockchain platform.
Which companies have seen the strongest stock price increases related to Ethereum?
GameSquare leads with a rise of over 40%, followed by BTCS Inc with over 22%, along with many other companies in the Ethereum reserve group also experiencing solid increases.
Source: https://tintucbitcoin.com/co-phieu-ethereum-tai-my-but-pha/
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