Cryptocurrencies Extend Gains amid Higher Demand

Cryptocurrencies are rising across the board with increased investors’ demand and news about investment inflows from institutions.

Coinsbase reportedly plans to invest $500 million in cryptocurrencies and invest future returns in a portfolio of crypto assets.

The world’s biggest and most famous cryptocurrency, Bitcoin, rose by about $3,228 or 7% over the past 24 hours to $48,875, turning positive for the week and recovering from earlier losses.

Meanwhile, Ethereum is up by about 7.5% at $3,287, also rebounding from recent losses to add about 2.5% on a weekly basis.