Crypto Markets Jump on OCC Approval for Banks to Use Blockchains
The price of bitcoin and native tokens for other stablecoin-supporting blockchains jumped after the OCC approved banks to use public blockchains.
"Ether's spot-driven rally is primarily due to excitement around the impending EIP 1559 upgrade," one market expert said.
The price move extends the second-largest cryptocurrency's stunning rally this year: It has tripled already in 2021, amid trader enthusiasm over growth in blockchain applications.
The publicly traded fintech firm paid an average price of $2,780 for the digital currency.
The ether rally appears to be more organic and driven from within the crypto industry.
Bullish price activity has tipped the total value of ETH locked into Ethereum 2.0 past $2.4 billion.