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Cryptocurrency Trend: Bitcoin Bearish, Falls To US$ 23,980, Ether Down 0.29% Today


The global cryptocurrency market has been a bit bearish today. On August 16, till 6.04 pm UTC, Bitcoin fell by 0.49% and was quoted at US$ 23,980.80, in intra-day trading. Yesterday, Bitcoin closed at US$ 24,097.80. In the last 5 days, Bitcoin gained by only 0.15%, and in the past 1 month, Bitcoin has been up by around 13.14%.

Cryptocurrency Trend: Bitcoin Bearish, Falls To US$ 23,980, Ether Down 0.29%

Major cryptocurrencies have shown a mixed trend today. Ether was quoted at US$ 1,893.83, down by 0.29%. Yesterday, Ether closed at US$ 1,899.39. Litecoin was quoted at US$ 61.36, up by 1.07%, Dogecoin was quoted at US$ 0.0851 up by 10.97%, and Cardano was quoted at US$ 0.5631 up by 2.25% today, till last traded.

About the present market trend, CoinDesk in a report mentioned today, "The major Ethereum overhaul known as the Merge looks poised to make staking the blockchain's ether (ETH) tokens more rewarding than ever. That's the message from derivatives traders, anyhow. Yields are seen jumping to 8% from around 4% now, according to interest-rate swap pricing on the Voltz Protocol. The Merge is likely to happen soon, with Ethereum's backers eyeing September for the event. Ether prices have surged in recent weeks in anticipation, and higher yields would further enrich the ether ecosystem."

Read more about: cryptocurrency bitcoin ether
Story first published: Tuesday, August 16, 2022, 23:48 [IST]
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