Crypto Market Sees Upward Trend, Including ETH

The cryptocurrency market experienced a significant upswing this week, with major players and developments contributing to the positive trend. Ethereum, which has faced challenges in recent times, saw a notable surge, reaching nearly $2,300. The CoinDesk 20, a key indicator of the market's performance, has risen by over 15% since Monday. Bitcoin approached its all-time high due to favorable trade news, with bearish positions being liquidated and increased ETF flows. The Pectra upgrade, which aims to enhance staking efficiency, may have contributed to Ethereum's resurgence. In other news, Coinbase finalized a record-breaking $2.9 billion acquisition of Deribit, a pioneering crypto options platform. Despite this significant move, Coinbase's stock price took a hit following its Q1 earnings report, which was impacted by tariffs. The integration of stablecoins continues to gain momentum, with Meta and Stripe set to join the fold. However, Senate Democrats are delaying the stablecoin bill due to concerns over questionable Trump-era crypto ventures. New Hampshire has become the first US state to establish a crypto reserve law, paving the way for other states to follow suit. Meanwhile, Strike has announced plans to venture into bitcoin-based lending, while another lender, Alex Mashinsky, has been sentenced to 12 years in prison for securities fraud related to the previous market cycle.