From the Senate’s infrastructure bill to Ethereum’s major upgrade: 5 key things that happened in crypto this past week – CNBC

From the Senate’s infrastructure bill to Ethereum’s major upgrade: 5 key things that happened in crypto this past week – CNBC

As the Senate continues to debate crypto tax provisions within the $1 trillion infrastructure bill, bitcoin and ether are surging.

The price of bitcoin, the largest cryptocurrency by market value, surpassed $46,000 on Monday morning, while the price of ether jumped over $3,000. As of 2:00 p.m. EST, bitcoin is trading at around $45,950 and ether is trading at around $3,150.

In addition to the infrastructure bill proposal, here are five things that happened in crypto this past week.

1. The NFT market continues to boom

Over the past week, the market for NFTs, or nonfungible tokens, surged.

OpenSea, one of the largest marketplaces for NFTs, surpassed $428 million in trading volume in the last seven days alone, according to DappRadar.

Within that period, CryptoPunk and Axie Infinity collectibles made up a significant volume of trading, accounting for over $134 million and over $220 million, respectively.

2. The new SEC chair says the crypto industry needs more investor protection

The new U.S. Securities and Exchange Commission (SEC) chair Gary Gensler made headlines last week after sharing his stance on crypto regulation.

“While I’m neutral on the technology, even intrigued … I’m not neutral about investor protection,” Gensler told Bloomberg on Tuesday. “If somebody wants to speculate, that’s their choice, but we have a role as a nation to protect those investors against fraud.”

Gensler also alluded to plans to regulate crypto exchanges and
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