The world’s second-largest cryptocurrency, Ethereum, recorded an all-time high on Monday as the ETH price soared to than 20% in the last 48 hours. Ethereum arrived at $1,470 on 25 January.
There is an undergoing vast logistical improvement to the Ethereum which heightened functional inflows. the future is bright for Ethereum as now more developers are building on the platform. The overall market limit of cryptocurrency assets achieved at $1 trillion on Monday.
Let us remember that the recent increase in Ethereum had a significant impact on DeFi cryptocurrencies. Also, Aave and SushiSwap, both increased in value of more than 10% in the last 24 hours. Aave is currently the world’s 15th most important cryptocurrency.
No regulation for cryptocurrencies yet
Regulations require much greater reporting and analyzing of transfers from private crypto “wallets.” Crypto is difficult to regulate especially because governments cannot simply control the contents of blockchains, which are abstract ledgers. What makes the situation even more complex is that crypto markets are international and do not depend on the financial support or resources of the government. What can be regulated is the crypto in the banking system.
We and even governments do not know where the cryptocurrency sector is heading to. Government control works best for the most stable industries, where there is relative certainty about how they ought to operate.
Now crypto still needs room to grow and develop.