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Bitcoin Lingers Near $20,000; Ether Extends Drop Before ‘Merge’

14Sep

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Bitcoin Lingers Near $20,000; Ether Extends Drop Before ‘Merge’

[ad_1] Cryptocurrencies were mixed a day after posting sharp losses triggered by hardening expectations of restrictive US monetary policy. Cryptocurrencies were mixed a day after posting sharp losses triggered by hardening expectations of restrictive US monetary policy. Bitcoin was down less than 1% to $20,140 as of 10:27 a.m. in New York after a near-10% plunge on Tuesday. Ether, the native token of Ethereum, decline for a third day, dropping about 1% to $1,590. Stocks, bonds and digital tokens plunged Tuesday after rising US inflation data pointed to further large Federal Reserve interest-rate hikes. The Fed has no alternative but to “pump the brakes, tighten financial conditions, ratchet real yields higher and that's ...

Ether Lags Bitcoin in Countdown to Revamp of Ethereum Blockchain

[ad_1] The cryptocurrency market is flashing some signs of caution with just two days to go before a critical software upgrade of the Ethereum network, the sector’s most commercially important blockchain. The cryptocurrency market is flashing some signs of caution with just two days to go before a critical software upgrade of the Ethereum network, the sector's most commercially important blockchain. The wariness is evident in the way Ether, the network's native token, is lagging Bitcoin of late: the second-largest digital asset is down about 13% in the past month, compared with an 9% drop in Bitcoin. The gap between a gauge of expected volatility in Ether and a similar index for Bitcoin is also elevated. At issue is whet...

Ether snaps at Bitcoin’s heels in race for crypto crown

[ad_1] For years, ether could barely dream of challenging its big brother bitcoin. Now, its ambitions may be becoming more realistic. For years, ether could barely dream of challenging its big brother bitcoin. Now, its ambitions may be becoming more realistic. The second-biggest cryptocurrency is taking market share from bitcoin ahead of an all-important "Merge" software upgrade that could sharply reduce the energy usage of its Ethereum blockchain, should the developers pull it off in coming days. Bitcoin's dominance, or its share of the crypto market's market value, has slipped to 39.1% from this year's peak of 47.5% in mid-June, according to data platform CoinMarketCap. Ether, on the other hand, has climbed to 20.5% from...