Cryptocurrencies rose during Wednesday's trading, with Bitcoin jumping to its highest level in six weeks, despite traders awaiting more clarity on the expected size of economic stimulus in China.
According to CoinBase data, Bitcoin rose by 3.09% to $28,865 at 08:24 AM Mecca time. However, the largest cryptocurrency by market value is still far below its all-time high of around $69,000.
The second-largest virtual currency, Ethereum, also rose by 2.11% to $1,816.7, while Ripple increased by 1.42% to 50.03 cents.
Despite recent setbacks, including legal challenges against Binance and Coinbase, the crypto market received support from BlackRock's application to create an exchange-traded fund.
