What's good about the currency circle today?

The cryptocurrency market was boosted by a number of good news: the Ethereum merge upgrade was successfully completed, improving energy efficiency and scalability. Grayscale announced the conversion of GBTC into a spot Bitcoin ETF, giving institutional investors more ways to participate. BlackRock launches Bitcoin trading service, indicating that mainstream financial institutions are serious about cryptocurrency. Polygon partners with Meta to expand adoption of NFT and Web3 technologies. South Korea passed the Cryptocurrency Transaction Act to enhance market legitimacy and stability.

Good news in the currency circle today

Multiple good news in the currency circle today boosted the market and drove the price of cryptocurrency to rise sharply.

1. Ethereum merge and upgrade successfully completed

On September 15, Ethereum successfully completed the highly anticipated merge upgrade, transitioning from the Proof of Work (PoW) consensus mechanism to the Proof of Stake (PoS) mechanism. This upgrade is recognized as a major milestone in the history of cryptocurrency development and will improve Ethereum’s energy efficiency and scalability.

2. Grayscale announces conversion to ETF

Grayscale, the world’s largest digital asset manager, announced plans to convert its Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF. If the switch is approved by the U.S. Securities and Exchange Commission (SEC), it will provide a more convenient way for institutional investors to participate in the cryptocurrency market.

3. Blackrock launches Bitcoin trading for private clients

Blackrock, the world’s largest asset management company, announced that its wealth management arm will provide Bitcoin trading services to private clients. The news shows that mainstream financial institutions are increasingly taking cryptocurrencies as an asset class.

4. Polygon announces cooperation with Meta

Polygon, an Ethereum second-layer expansion solution, announced its cooperation with Meta to provide NFT and Web3 services for Meta-owned applications. This collaboration will help expand the scope of applications of NFT and Web3 technologies.

5. South Korea passed the cryptocurrency trading bill

The South Korean Congress passed a cryptocurrency trading bill to bring cryptocurrency exchanges into the regulatory framework. This bill will provide greater legitimacy and stability to the Korean cryptocurrency market.

These good news have boosted cryptocurrency market sentiment, driving the prices of major cryptocurrencies such as Bitcoin and Ethereum to rise sharply. Investors expect these positive developments to continue to drive the cryptocurrency industry forward.

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