Fubotv earnings beat by $0.10, revenue topped estimates
The cryptocurrency market rebounded on Thursday, with Ether and Binance’s BNB token leading the surge. Ether rose 6% in the past 24 hours, reaching $2,739 by late morning in Hong Kong.
The jump came after Cboe filed with the U.S. SEC to allow staking in the 21Shares Ethereum ETF. Analysts believe this move could reshape ETH exchange-traded funds. Min Jung from Presto Research called it a turning point for Ethereum’s institutional adoption.
BNB posted the biggest gain among the top 30 cryptocurrencies, soaring 12% to around $710. Rachael Lucas from BTC Markets linked the rise to a technical rebound after BNB held support at $500 on February 6. Traders had identified that level as a key accumulation zone. The surge was further fueled by Binance’s new memecoin listings and promotional efforts by former CEO Changpeng Zhao to boost the BNB Chain ecosystem.
The broader market added 3.2%, while the GMCI 30 index, which tracks the top digital assets, climbed 4.6%. Algorithmic trading played a role in the recovery, reacting to a more stable macroeconomic outlook. U.S. inflation data showed a 0.5% monthly increase in the consumer price index (CPI) on Wednesday. Initial market hesitation gave way to optimism as investors awaited further economic indicators.
Market sentiment also improved after U.S. President Donald Trump claimed Russian President Vladimir Putin had agreed to discuss ending the Ukraine war. The possibility of de-escalation boosted investor confidence, contributing to the broader market rally.
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