Crypto markets may have settled for Thanksgiving, but price action on Friday is driving some major coins to levels not seen in a year and a half.
Bitcoin It rocketed above the $38,000 mark on Friday, according to CoinGecko, and is currently up to $38,390. of The last time BTC achieved that level was in May 2022. Last week, the asset increased by about 7%, pushing its 30-day gain to more than 10%.
Money has flooded into crypto markets, with investors confident that Bitcoin exchange-traded funds (ETFs) will finally be approved by US regulators after 10 years, with large digital asset funds receiving the bulk of the money.
Such a product gives traditional investors exposure to the crypto world in a safe and regulated manner. In a report on Monday, digital asset fund manager CoinShares said crypto products generated $176 million in revenue last week — the eighth consecutive inflow of revenue.
Meanwhile, Ethereum It also rose to an 18-month high, according to data from CoinGecko, reaching a high of nearly $2,131 early Friday. It is currently trading at $2,121, and is up about 4% on the day.
The asset is up 17% in the last 30 days, and continues to climb. Ethereum was trading above $2,500 18 months ago in May 2022, before the markets were hit hard by the collapse of crypto mega project Terra.
Elsewhere, meme coin king Dogecoin is up over 3% in the past day, trading at $0.078. Rival Shiba Inu recorded a gain of nearly 3% and a current price of $0.00000828.
Solana, which has seen a lot of price action this month, was one of the top coins and tokens to jump just 2% in the previous day. Last week Solana increased by 3%.
Edited by Andrew Hayward.
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