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Cryptocurrencies rallied on Monday night amid a late surge in optimism around SEC decisions on spot ether ETF applications, the first of which is due this week.
Cryptocurrencies rallied on Monday night amid a late surge in optimism around SEC decisions on spot ether ETF applications, the first of which is due this week.
Crypto market capitalisation rose 3.3% in 24 hours to $2.22 trillion. Local capitalisation bottomed near $2.10 trillion, confirming a sequence of declining local lows (2.3 in March, 2.25 in April) and highs (2.76 in mid-March, 2.67 in early April and 2.46 in late April).
Bitcoin is up 44% so far this year. Its halving could accelerate this trend and spread the gains to other stocks and tokens. Some crypto miners may face a difficult road ahead.
As disgraced crypto exchange founder Sam Bankman-Fried braces for sentencing this week, the industry is amping up efforts to prevent the kind of fraud that…