Here is what happened yesterday in the crypto market:
Markets Rally Amid Policy Signals
Crypto markets have experienced a significant rally, with the CoinDesk 20 (CD20) index rising 5.3% following fresh U.S. policy signals and regulatory clarity. This surge is partly attributed to the growing trend of cryptocurrency treasury companies and the recent resolution of the SEC’s case against Ripple, leading to increased investment in altcoins.
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Trump Executive Order Opens 401(k) to Crypto
President Donald Trump has signed an executive order that could allow Americans to include cryptocurrencies and other alternative assets in their 401(k) retirement accounts. This move is seen as a significant step towards integrating digital assets into mainstream financial planning, potentially unlocking a $9 trillion market.
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Ethereum Transactions and Price Soar
Ethereum’s network transactions have reached a record high, and the price of Ether (ETH) has soared above $4,000 for the first time since December. This surge is fueled by increased levels of staked ETH and a regulatory boost for liquid staking. Some analysts suggest this could signal a broader altcoin rally.
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Coinbase Adds DEX Trading to U.S. Platform
Coinbase is expanding its services by rolling out decentralized exchange (DEX) trading capabilities within its main app for U.S. customers, excluding New York State. This initiative is part of Coinbase’s strategy to evolve into an “everything app,” offering a wider range of crypto functionalities.
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Binance Partners with Spanish Bank BBVA for Custody
Binance, the world’s largest cryptocurrency exchange, has partnered with BBVA, Spain’s third-largest bank, to provide off-exchange custody services for its customers. This collaboration aims to enhance protection for user funds by isolating them from exchange operations, a move possibly influenced by past industry events like the FTX collapse.
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