Why Ethereum Is Gaining Today
Ethereum (CRYPTO: ETH) is up 10.1% in the last 24 hours as of 3:34 p.m. ET on Tuesday. The jump comes as the S 500 notched up 0.4% and the Nasdaq Composite gained 0.7%.
Ethereum reversed yesterday's decline after Federal Reserve Vice Chair Michelle Bowman told legislators that the Fed will work to create a framework for stablecoins within the banking system.
On Monday, Bowman addressed the House Financial Services Committee, telling committee members that she would work with fellow regulators to "encourage innovation in a responsible manner," and that stablecoins could help create a more efficient banking system, but that it was her responsibility to ensure their use doesn't disrupt the "safety and soundness" of the financial system.
Source Fool.com
