WATCHLIVE: Jay Clayton, Former Chairman of U.S. SEC, speaks in Bloomberg’s Crypto Summit 2022.
The largest virtual coin climbed as much as 6.8 per cent to the cusp of US$23,000, a level it was last at in mid-June, before giving up some gains to trade at US$21,909 at 10 a.m in London. Ether at one point added almost 11 per cent. Solana also achieved a double-digit percentage gain before falling back.
A sustained break above could renew the speculative momentum that can grip crypto assets in the blink of an eye. Expectations for Federal Reserve interest-rate hikes are less aggressive now, which may help. Ether is extending a rally that began last week after developers of the Ethereum blockchain gave a target for the long-anticipated software update that is projected to lower the network’s energy usage.
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