Ethereum traders are currently watching the $2,600 mark as the next significant level for Ethereum (ETH) as the Asian market opens. OKX's Chief Commercial Officer Lennex Lai believes that if Vitalik Buterin can reduce Ethereum's dependence on Layer-2 solutions, a rise beyond $3,000 is plausible. "Vitalik’s pivot to scale Ethereum Layer 1 by 10x will be a game-changer, shifting focus away from heavy reliance on Layer 2 solutions like sharding," he mentioned in a note to CoinDesk. As of now, institutional interest remains strong, with nearly $1.2 billion recently being injected into Ethereum. The upcoming economic data, including decisions from the European Central Bank (ECB) and U.S. job statistics, could also influence ETH's trajectory.
In South Korea, cryptocurrency interest is translating into political support, according to Simon Kim, CEO of Hashed, the country's largest crypto investment firm. Kim claims that crypto is officially more popular than the stock market, with 16.29 million active crypto traders compared to 14.24 million in equities. Political backing for crypto initiatives is now seen as vital for winning elections in the region. South Korea’s approach to crypto aligns closely with U.S. regulatory developments, as Kim noted that the government plans to uphold the previously established capital gains tax, which is set to take effect in 2027. Additionally, a stablecoin policy is expected to be developed as stablecoins already represent a significant portion of trading activity in Korea.
On a broader scale, Circle, issuer of the USDC stablecoin, has priced its upcoming IPO at $31 per share, significantly above initial expectations, indicating strong market demand. The listing comes as U.S. lawmakers advance legislation to regulate the crypto markets, emphasizing the urgency to establish clear frameworks to keep innovations from relocating overseas.
Currently, Bitcoin is experiencing volatility as it struggles to maintain support above $105,000, while Ethereum has seen a 4% increase from its recent low as institutional buying drives prices. Market trends reflect a combined interest in crypto assets amid ongoing discussions around regulation and investment in technology solutions like AI, signifying a future in which these sectors may influence each other closely.
In South Korea, cryptocurrency interest is translating into political support, according to Simon Kim, CEO of Hashed, the country's largest crypto investment firm. Kim claims that crypto is officially more popular than the stock market, with 16.29 million active crypto traders compared to 14.24 million in equities. Political backing for crypto initiatives is now seen as vital for winning elections in the region. South Korea’s approach to crypto aligns closely with U.S. regulatory developments, as Kim noted that the government plans to uphold the previously established capital gains tax, which is set to take effect in 2027. Additionally, a stablecoin policy is expected to be developed as stablecoins already represent a significant portion of trading activity in Korea.
On a broader scale, Circle, issuer of the USDC stablecoin, has priced its upcoming IPO at $31 per share, significantly above initial expectations, indicating strong market demand. The listing comes as U.S. lawmakers advance legislation to regulate the crypto markets, emphasizing the urgency to establish clear frameworks to keep innovations from relocating overseas.
Currently, Bitcoin is experiencing volatility as it struggles to maintain support above $105,000, while Ethereum has seen a 4% increase from its recent low as institutional buying drives prices. Market trends reflect a combined interest in crypto assets amid ongoing discussions around regulation and investment in technology solutions like AI, signifying a future in which these sectors may influence each other closely.
