Bitcoin pushes above $51,000 as Shiba Inu surge continues
Cryptocurrency Bitcoin has risen to around $51,000 as the Bank of America supports cryptocurrency transactions as a new asset class.
The Bank of America launched a digital asset research programme as it looks to scale its crypto trading business.
The bank announced building a specialist unit to feed growing institutional demand for exposure to the crypto ecosystem. It will be led by Alkesh Shah, head of Global Cryptocurrency and Digital Asset Strategy.
Glassnode revealed that the digital assets hash rate had almost recovered fully since the crash it experienced in May when China cracked down on crypto trading. Prices have been up more than 60 per cent since July.
The price rise is the highest since September after El Salvador officially adopted cryptocurrency as its legal tender.
These gains come amidst the continuing surge with Shiba Inu, a cryptocurrency created as a joke to rival Bitcoin.
The digital asset has gained 55 per cent to $0.00001312 in the last 24 hours, pushing the market cap of Shiba Inu beyond $5.22 billion.
Recently, Tesla CEO Elon Musk tweeted a photo of a Shiba Inu puppy named Floki sitting on a Tesla.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Economy
Naira loses 5.3% against dollar at official market
At the Investor’s and Exporter’s (I&E) window, the naira traded between N1,317.00 and N1,000.00 against the dollar.
World
Germany has world’s highest leadership approval rating; Russia lowest: Report
Germany boasts of a 60 per cent leadership approval rating, a significant increase from 2023 approval ratings, which stood at 46 per cent.
Showbiz
Sexual Assault: Appeal Court reserves judgment as Baba Ijesha challenges conviction
Baba Ijesha, in his notice of appeal marked CA/LAG/CR/544/23, asked the appellate court to set aside the lower court’s judgment.
Sport
Goals rain as Arsenal demolish miserable Chelsea to keep title hope alive
The Gunners easily tore through Chelsea’s defence line, scoring 5 to set a new record against London rival.
Politics
Ganduje lauds Ododo for ‘good job’ in Ondo APC governorship primary
Mr Ganduje gave the commendation when he received the state governorship primary election committee report from Mr Ododo in Abuja on Tuesday.
States
Fire guts office of Governor Soludo’s aide
A part of the office of the special adviser to Anambra governor on political matters, Alex Obiogbolu, was gutted by fire on Tuesday.
