Crypto Markets Rally, With Bitcoin Pushing $7K, Ethereum Close to $500

There has been a recent steady stream of high-profile positive news in the crypto and blockchain space that could account for today’s wave of confidence.

Two key appointments have been announced, with Facebook’s Director of Engineering of three years moving to the same position at the company’s recently established blockchain team.

Meanwhile, the Winklevoss twins’ Gemini crypto exchange has hired former New York Stock Exchange (NYSE) Chief Information Officer Robert Cornis as its first-ever Chief Technology Officer.

Bullish news for the global crypto landscape include yet further signs that the government of South Korea –– historically a major crypto market –– is considering easing its hardline stance on cryptocurrencies to establish unified rules with other governments, as well as embracing the wider blockchain space.

Positive news has also been forthcoming from some of the world’s leading crypto exchanges, with new overseas ventures and expectations of skyrocketing revenue.

Huobi, currently ranked third largest crypto exchange by daily trade volumes, opened registration on its newly created U.S.-based “strategic partner” trading platform this Friday, July 6.

On July 5, the exchange confirmed trading had opened on its new Australia-based platform, just a week after opening a London-based office targeting the European market.

Also this week, Changpeng Zhao, the CEO of the world’s top ranked crypto exchange Binancesaid he “expects” the company’s 2018 net profits to reach up to $1 billion.