Why Cryptocurrencies Jumped Big Today
The cryptocurrency market is on fire today after federal regulators seemed to give the industry an opening for more securities. U.S. Securities and Exchange Commission Chair Gary Gensler reiterated support for crypto-related ETFs, and Federal Reserve chair Jerome Powell said he doesn't plan to ban cryptocurrencies.
Bitcoin (CRYPTO: BTC) made the most notable move of the day, jumping more than 10% at one point. As I'm writing at 11:30 a.m. EDT, the cryptocurrency is up 9.2% in the last 24 hours. Ethereum (CRYPTO: ETH) is up 7.4% over the same time, Dogecoin (CRYPTO: DOGE) has risen 6.3%, and Solana (CRYPTO: SOL) is up 14.4%.
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Source Fool.com
