Crypto currency saw a surge in prices following the announcement by the Office of the Oversighter (OCC) to allow the use of stablecoins and blockchains in US banks.
Ethereum (ETH) which dominates the market as a stablecoin payment settlement protocol jumped almost 12% as soon as the statement was issued and the Bitcoin price rose 5%.
Similarly, Ripple (XRP), Bitcoin Cash (BCH) and Litecoin (LTC) also showed price increases.
Santa Monica-based Blockhead Capital management partner Justin Yashouafar described the surge as a positive signal among investors who are beginning to believe in the latest legislation.
Yashouafar also explained the positive movement of Bitcoin and Ethereum followed by price jumps from native tokens (native tokens) for other network of stablecoins supporters such as Algorand (ALGO) and Solana (SOL).
Both support the largest stablecoins, Tether (USDT) and Circle (USDC).
However when ETH and ALGO soared after the news, SOL prices were seen unchanged.
BTC is currently trading at $ 31,316 with an increase of almost 13% to date. While ETH recorded a price of $ 1,001, slightly lower than the record high of $ 1,140.
