Bitcoin and Ethereum (ether) cryptocurrencies have reached their highest levels in value in more than two months, despite the uncertainty surrounding crypto rules in the United States’ infrastructure plan. In addition to roads, railways, and bridges, this plan also deals with digital infrastructure. The rise in coins came after a major upgrade to the ether network, which changed the way transactions are processed.
Bitcoin reached a price of about 45,000 dollars on Sunday, which is the highest level since May 18. Ether rose to almost 3,200 dollars. The coin gained value for the fifth day in a row amid the upgrade. According to crypto experts, optimism has returned in the digital currency markets, although a lot of uncertainty remains.
Cryptocurrencies have lost a lot in recent months. Investors were concerned, among other things, about the tightening of the Chinese government’s crackdown on the currencies. In addition, Tesla boss Elon Musk also pressured cryptos after questions about energy consumption when mining them.
The US infrastructure plan remains a source of uncertainty for crypto markets. Among other things, stricter reporting requirements are proposed for transactions. In addition, the cryptos must be taxed extra, as can be read. The plan still needs to be approved by Congress.
Cardano, XRP, and Dogecoin
But despite the US regulations in the making, the digital coins gained in value. In the wake of bitcoin and ether, Binance coin, Cardano, XRP, and dogecoin also rose. The market value of digital currencies is currently just under 1.9 trillion dollars. At the low point in June, that was almost 1.2 trillion dollars.