Crypto prices of various digital coins, such as Bitcoin, Ethereum, Dogecoin and more, are now rising. Here’s why these digital currencies are surging.
As of the moment, crypto is still rising thanks to Bitcoin, Dogecoin, Ethereum, and other rising cryptocurrencies in the market. Specifically, BTC’s value has faced massive surges after a tumultuous week for traders.
On the other hand, BTC’s crypto price also received an increase of more than 7% over the last few days. Ethereum, Binance’s BNB, Ripple’s XRP, and dogecoin have climbed between 5% and 10%, pushing the combined crypto market value up by $200 billion since Wednesday.
The crypto market boost comes after technology giants, such as Amazon and Twitter. These two tech manufacturers confirmed that they are taking the digital currency market more seriously than before, especially after Elon Musk and other tech giant CEOs boost the values of their preferred brands.
On Thursday, Twitter and Square SQ +1.3% chief executive Jack Dorsey, a fierce bitcoin proponent, told Twitter investors bitcoin will be a “big part” of the company’s future. Why? Because this crypto coin can also help the social media giant move faster in terms of its product expansions and is the “best candidate” to become the “native currency” of the internet, Dorsey said, speaking on Twitter’s second-quarter earnings call.
Dorsey added that “if the internet has a native currency, a global currency, we are able to able to move so much faster with products such as Super Follows, Commerce, Subscriptions, Tip Jar and we can reach every single person on the planet because of that instead of going down a market-by-market-by-market approach.” This just means that crypto and other types of currencies are more important than people think.
Digital Currency Market On the Rise!
Aside from Twitter, Amazon is also taking cryptocurrency more seriously than before. The giant U.S.-based retailer confirmed that it is currently looking to hire a digital currency and blockchain expert, according to a recent job posting.
Amazon’s job posting stated that the crypto experts “will leverage your domain expertise in blockchain, distributed ledger, central bank digital currencies, and cryptocurrency to develop the case for the capabilities which should be developed, drive the overall vision and product strategy, and gain leadership buy-in and investment for new capabilities.”
Since the digital market is increasing its game level, many U.S. residents are now getting more involved than before. As of the moment, more than 13% of Americans are now trading digital currencies for the past few years. This means that more than one out of ten individuals are spending their money on digital coins. This information was revealed by a new survey published by the University of Chicago. Some experts also claimed that this is a sign of the popularity of digital currencies like bitcoin and Ethereum.
Investors were likely spurred by a run-up in crypto prices earlier this year. Indeed, most crypto investors (61%) bought in over the past six months, according to NORC, a research group at the university that published the survey.