Cryptocurrency is rallying with Ethereum, the second-largest cryptocurrency, soaring near its hard fork next month.
Bitcoin is soaring after a Mexican conglomerate said it would handle Bitcoin at its own bank.
◇ Bitcoin’s 6% surge due to comments by Mexican conglomerates:
Bitcoin is at $34,356.76 as of 10:30 a.m. on the 29th (GMT+8), up 5.54% from 7 days ago on Coin Market Cap.
The Wall Street Journal (WSJ) reported that Mexican conglomerate Ricardo Salinas Fliego said the previous day that his bank was working to accept Bitcoin for the first time among Mexican financial institutions.
This overwhelmed the bad news of England. On the previous day, British regulators announced that they would ban Binance, the world’s largest cryptocurrency exchange, from operating in the UK.
Salinas tweeted over the weekend that “I and my bank are currently working to become the first banks to accept Bitcoin in Mexico.”
“I think any investor should study cryptocurrency and its future,” he said. “Banco Azteca is working to bring it to customers.”
Salinas owns the local bank Banco Azteca in the third code of Mexico. The Forbes magazine estimated that he was worth 15.8 billion dollars.
◇ Ethereum soared 6% ahead of next month’s hard fork:
Ethereum is at $2,108.22 at Coin Market Cap at the same time, up 6.57% from 24 hours ago.
It is analyzed that this is because Samsung Electronics is going to have a hard fork next month. Hard fork refers to the rapid change of blockchain protocol at some point.
This hard fork is not only to improve the network environmentally, but also to make the fee structure cheaper and to handle more transactions.
The price of Ethereum seems to be soaring because the supply of Ethereum could decrease during this work.
◇ Other cryptocurrencies are soaring: In addition, Binance Coin is soaring 8.72%, Cardano is 6.27%, and Dogecoin is 6.55%, respectively, in Coin Market Cap.
