Recently, Ethereum has been incredibly popular, with its total market cap reaching 500 billion dollars! This number is no small feat; it just so happens to meet the "official cryptocurrency purchasing" standard set by several states in the United States.

Let's first talk about New Hampshire, which passed a bill in May allowing the government to use up to 5% of public funds to buy cryptocurrencies with a market value exceeding 500 billion dollars. In simple terms, it means the government can also invest in digital currency, but it has to be the big names.

Texas is even more adventurous. In June, they signed the "Bitcoin Reserve Act," creating a government-managed fund to purchase cryptocurrencies that have had an average market value of no less than 500 billion over the past year. They also emphasized that this money is earmarked for this purpose and will not be diverted for other uses.

Oklahoma is not to be outdone either, as they passed a bill in March allowing the government to use 10% of public funds to buy Bitcoin or other digital currencies with a market value exceeding 500 billion. This proportion is higher than in other states, indicating a strong commitment to betting on digital currencies.

Why are these states so proactive? Simply put, they believe that cryptocurrencies can hedge against inflation and are a good investment choice. Now that Ethereum's market value has also met the criteria, it is estimated that more states will join the ranks of "official cryptocurrency trading." $ETH