Bitcoin Flat to $20,000, Ether, Cardano Jump Up to 2%; See List
Cryptocurrency price today: The global cryptocurrency market recovered slightly on Wednesday 31 August following the US Federal Reserve’s hawkish view on inflation and suggestions for a possible interest rate hike. The global cryptocurrency market on the day traded marginally higher by 0.28 percent, scaling $996.44 billion at the time of writing, data from CoinMarketCap showed. Bitcoin, Ethereum, Polkadot and other major cryptocurrencies recovered from the initial shock and traded in the green.
Bitcoin price today at the time of writing was $20,409.53, up 0.03 percent over the past 24 hours, data sourced from CoinMarketCap showed. Over the past seven days, Bitcoin prices have fallen by 4.77 percent.
“Bitcoin’s price bounced back in the last 24 hours after falling below the US$20,000 level over the weekend. It may take some time for BTC to come back as it has not gathered the strength to make an upward move. The price of BTC is affected by the recent hawkish Federal Reserve comments and the upcoming Ethereum merger, says Edul Patel, CEO and co-founder of Mudrex.
On the other hand, the price of Ether rose today by 1.19 percent at the time of writing the article to a scale of $1,598.46, data from CoinMarketCap showed. Over the past week, Ether prices have spiraled down by 2.30 percent, the data further showed.
“The second largest cryptocurrency, Ethereum, has outperformed BTC in recent months as the merger approaches. The price of ETH could break out of the US$2,000 level before the merger, Patel said.
“After years of hard work, Ethereum’s proof-of-stake upgrade is finally here! The successful upgrade of all public testnets is now complete and The Merge is planned for the Ethereum mainnet, the Ethereum Foundation said in a blog post on Wednesday.
“The Terminal Total Difficulty value that triggers the merge is 5875000000000000000000, expected between September 10 and 20, 2022,” it said.
Here are the top 10 cryptocurrencies and their prices as of August 31, Wednesday (data from coinmarketcap.com at the time of publishing this article)
Bitcoin $20,409.53 or 0.03 percent gain in the last 24 hours
Ethereum $1,598.46 or 1.19 percent gain in the last 24 hours
Tether $1.00 or 0.00 percent loss in last 24 hours
USD Coin $1.00 or 0.00 percent loss in last 24 hours
BNB $287.06 or 0.49 percent loss in last 24 hours
Binance USD 1.00 or 0.00 percent gain in last 24 hours
XRP $0.3315 or 0.29 percent loss in the last 24 hours
Cardano $0.458 or 1.35 percent gain in the last 24 hours
Solana $32.29 or 1.09 percent loss in the last 24 hours
Dogecoin $0.06276 or 1.76 percent loss in last 24 hours
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