Baxia Markets
September 07, 2021

Bitcoin Rally Continues

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The price of major crypto coins has risen to its highest level since May. According to CoinDesk data, Bitcoin was changing hands for more than $50,000 on September 4, up 20% from a month ago. During that time, Ethereum has climbed by around 40% to over $3,900. The second-largest cryptocurrency by market capitalization surged by a third from $2,700 to $3,900, a growth rate 17 percent greater than BTC, thanks to the majority of decentralized finance and non-fungible token (NFT) trade taking place on the Ethereum (ETH-USD) blockchain.




Bitcoin IRA now has around 120,000 client accounts and about $2 billion in assets on the site. The flood of retail investors opening new accounts — notably for tax-advantaged IRA accounts — is a reflection of how inquisitive investors are as they seek more traditional ways to engage in this market, despite the platform's heft not moving the market. In late August, Facebook CEO David Marcus told Bloomberg that the social network's digital wallet, Novi, might support non-fungible coins. If Facebook helps popularize NFTs, demand for ether, which is used to pay for calculations on the ethereum network, may rise.


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