Ether, which displayed a similar pattern, was quoted at US$ 1,999.76, up 1.97%. Ether's closing price yesterday was $1,961.05. As of the latest trade, Cardano was trading at US$ 0.5581, up 3.25%, Dogecoin was trading at US$ 0.0739, up 2.05%, and Litecoin was trading at US$ 64.51, up 2.40%. The US CPI Inflation statistics for July showed an amazing 8.5% YoY jump, which gave the cryptocurrency market some hope. The US Fed rate increase is also benefiting the market.
Ether, which displayed a similar pattern, was quoted at US$ 1,999.76, up 1.97%. Ether's closing price yesterday was $1,961.05. As of the latest trade, Cardano was trading at US$ 0.5581, up 3.25%, Dogecoin was trading at US$ 0.0739, up 2.05%, and Litecoin was trading at US$ 64.51, up 2.40%. The US CPI Inflation statistics for July showed an amazing 8.5% YoY jump, which gave the cryptocurrency market some hope. The US Fed rate increase is also benefiting the market.
According to a CoinDesk analysis on the Bitcoin market, "The weekly chart of BTC shows that bitcoin's price is continuing to rise. The price has risen 25% to over $24,000 after falling by 42% between March 28 and June 27, but with some switchbacks. Beginning on June 13, there was an increase in volume, suggesting that sellers were becoming more eager to sell their BTC positions. Investors should consider if the forced selling was caused by market-wide contagion or by selling pressure based on the perceived worth of bitcoin." The cost of ether has increased by 79.22% in the past month. A CoinDesk report also said that in relation to
"Ether's price has increased 9% over the past seven days as investors eagerly await the Ethereum Merge, which will shift the protocol from proof-of-work to the faster, more energy-efficient proof-of-stake model."
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