Cryptocurrency prices today were mixed with digital coins like Bitcoin and ether trading higher whereas dogecoin and cardano were lower. As per CoinDesk, the world’s largest cryptocurrency surged to $40,475, up over 2.5%. Ether, the coin linked to ethereum blockchain, also rose more than 2% to $2,782. The digital currency Ether climbed to its highest level in nearly two months during the midst of a software upgrade that will trim the pace at which fresh tokens are minted.
The world’s most-used blockchain updated its software, known as the London hard fork, that includes a fee reduction feature called EIP 1559. The fee cut already eliminated $2 million worth of its native cryptocurrency Ether in only a few hours since taking effect, according to tracking website ultrasound.money. That could put upward pressure on the price of Ether going forward, reported Bloomberg.
On the other hand, dogecoin and cardano were down 0.4% each to $0.19 and $1.37 respectively. Other digital coins like XRP, Litecoin, Uniswap, Stellar were slightly higher over the last 24 hours.
Supportive comments from billionaire Elon Musk and Ark Investment Management LLC’s Cathie Wood, as well as speculation over Amazon.com Inc.’s possible involvement in the cryptocurrency sector, had helped Bitcoin rally in recent days, it has retreated since as it comes into greater focus for regulators.
Meanwhile, U.S. Securities and Exchange Commission Chair Gary Gensler signaled that regulators may be more open to a Bitcoin ETF if it were based around futures rather than the cryptocurrency itself.
(With inputs from agencies)
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