Ethereum
Bitcoin Surpasses $70,000 Amid Argentina Legal Offering Talks, Ethereum Flirts With $4,000
Most of the top 100 chips are in the green because Bitcoin jumps 2.5% and exceeds $70,000 while Ethereum flirts with $4,000. THE BTC price is $70,136 while the ETH price is $3,934 at the time of writing, according to CoinGecko data.
It comes like Argentina opens discussions with the El Salvador Digital Assets Commission on their experience using Bitcoin as legal tender.
“El Salvador has established itself as a global leader not only in the use of Bitcoin but also in the broader field of digital assets,” said Roberto E. Silva, president of the National Securities Commission of Argentina, in a press release. blog post. “We aim to strengthen our ties with El Salvador and are exploring possible collaboration agreements.”
El Slavador made headlines in 2021 when it became the first country in the world to make Bitcoin legal tender, leading to a rise of tourism and carry on Bitcoin Spending Frenzy. Now Argentina, with its new eccentric leader Javier Mileiis also looking to explore Bitcoin as legal tender.
According to WorldoMeters, Argentina is the 22nd country in terms of GDP with a population of over 45 million. Although the meeting took place on May 23, the news only spread today as Bitcoin climbs 2.5% above the $70,000 threshold.
In return, there were $28 million in liquidations, including $23 million in short positions. Meanwhile, $17 million in Ethereum short positions were liquidated, according to CoinGlass.
Indeed, Ethereum saw similar gains of 3.8%, putting it close to the $4,000 mark. On Thursday, the United States Securities and Exchange Commission (SEC) issued a historic approval of Ethereum spot ETFsthus giving the green light to Ethereum trading on Wall Street.
Over the next hours and days, the price remained largely unchangedeven down 4% at one point. But now, as anticipation for ETF volume rises, the second-largest cryptocurrency is starting to see gains.
Edited by Ryan Ozawa.