Cryptocurrency prices rose during trading on Thursday, driven by investor optimism regarding clearer regulatory directions in the United States, as part of President Donald Trump's plans to strengthen the country's position as a global hub for the digital asset industry.
Bitcoin rose by more than 1% to $67,020, accounting for approximately 58.1% of the total market capitalization of the cryptocurrency market, reflecting its continued dominance of the sector.
As for the prices of other cryptocurrencies, Ethereum, the second largest cryptocurrency by market capitalization, rose 1.75% to $1,978.29, while Ripple climbed about 0.4% to trade at $1.4254, in a performance that reflects a general improvement in risk appetite.
This move followed statements from prominent financial leaders, with David Solomon, CEO of Goldman Sachs, emphasizing the need for a clear regulatory framework to govern cryptocurrencies and related systems within the United States. He indicated that operating in this field without regulations is unrealistic, and called for learning from the experiences of countries like El Salvador, which have adopted Bitcoin as legal tender.
Analysts believe that clearer regulatory frameworks could attract more institutional investment to the digital asset market and reduce the uncertainty that has long weighed on prices, especially with the growing global interest in integrating cryptocurrencies into traditional financial systems.
