Bitcoin
Bitcoin reached a two-year high on Tuesday, with huge investors buying the cryptocurrency, while smaller rival ether surpassed $3,200 for the first time since 2022.
Cion has risen more than 10% in two sessions, boosted by a Monday statement from crypto investor and software business MicroStrategy that it had just purchased around 3,000 bitcoins for a total of $155 million.
The approval of bitcoin-owning exchange-traded funds (ETFs) in the United States has also helped to boost the original and largest cryptocurrency by market value. Trading volumes in several of the funds increased on Monday, and crypto-linked corporations climbed as well, contrasting with jittery broader markets.
Cion surged to $57,036 in the Asian morning, its highest level since late 2021. Ether surged to $3,275, its highest level since April 2022.
“There’s only so much supply… but the demand unleashed by the U.S. spot ETFs seems to be relentless,” said Justin d’Anethan, head of partnerships in Asia at Keyrock, a digital asset market builder.
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