What's Driving Ethereum, Dogecoin, and THORChain Higher Today?

The crypto market has rallied significantly today, with positive sentiment once again delivering positive price action for various top cryptocurrencies. As of 4 p.m. ET, Ethereum (CRYPTO: ETH), Dogecoin (CRYPTO: DOGE), and THORChain (CRYPTO: RUNE) surged 4.7%, 1%, and 5.2%, respectively, over the past 24 hours. These aggregate moves essentially approximated the overall market, which was up about 2.5% over the same time period.

Ethereum, which still runs with a proof-of-work consensus mechanism, has benefited from the recent ruling from the European Union that tokens relying on proof-of-work mining would not be hindered. Previously, a proposal under the Markets in Crypto-Assets (MiCA) legislative framework had a provision that would have limited the use of proof-of-work cryptocurrencies in the region.

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Source Fool.com