Why Coinbase and Crypto Are Popping Today
Cryptocurrencies rallied sharply on Monday as investors jumped back into the market. Bitcoin traded over $53,000 for the first time since November 2021, and that's pulling the entire market higher.
Even bigger moves took place. Ethereum (CRYPTO: ETH) jumped 8.3% since the close of the market on Friday, NEAR Protocol (CRYPTO: NEAR) was up 21.3% on Monday, and (NASDAQ: COIN) jumped 16.9%. Bitcoin miners Marathon Digital and Riot Platforms were up 21.7% and 17%, respectively at the end of trading today. This is the momentum that's been forming for a while, but for some, it may last.
The Ethereum blockchain will get an upgrade called Dencun in mid-March that's expected to increase throughput and reduce costs on the blockchain. This could make the blockchain much more usable for utility, which has always been the cryptocurrency's promise.
Source Fool.com
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