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Energy Web Token Jumps 25% After BlackRock Praises Decarbonization Project

12 August 2022 14:05, UTC
Anna Martynova

The Energy Web (EWT) token jumped 25% to a high of $3.18 on Thursday after it was mentioned in a BlackRock press release. The release details BlackRock's plans to create a spot private bitcoin trust for U.S. institutional investors, and then praises Energy Web's potential to implement less environmentally harmful bitcoin mining strategies.

Energy Web is a non-profit organization that creates operating systems for energy grids. According to the release citing RMI, an energy sustainability advocacy group, BlackRock is encouraged that organizations such as RMI and Energy Web are developing programs to bring greater transparency to the sustainable use of energy in bitcoin mining and intends to monitor progress on these initiatives.

The press release follows last week's announcement that BlackRock, the world's largest asset manager, has partnered with crypto exchange Coinbase Global (COIN) to offer cryptocurrencies to BlackRock's institutional investors.

Image: Bitnovo Blog