The rally in major coins simmered down Thursday evening as the global cryptocurrency market cap rose marginally by 0.3% to $1.1 trillion at press time.
Price Performance Of Major Coins
Coin
24-hour
7-day
Price
Bitcoin (CRYPTO: BTC)
0.1%
5.8%
$23,962.22
Ethereum (CRYPTO: ETH)
1.65%
16.95%
$1,881.43
Dogecoin (CRYPTO: DOGE)
-0.3%
5%
$0.07
Top 24-Hour Gainers (Data via CoinMarketCap)
Cryptocurrency
24-Hour % Change (+/-)
Price
ANKR (ANKR)
+48.8%
$0.05
Ethereum Classic (ETC)
+9.3%
$42.3
Ravencoin (RVN)
+8.7%
$13.5
See Also: Best Crypto Debit Cards
Why It Matters: The rise seen in Bitcoin and Ethereum prices, stemmed by lower July inflation numbers, moderated at press time.
Cryptocurrencies appear to be following stocks in shedding gains racked during the recent broader risk-on rally. The S&P 500 ended Thursday flat, while the tech-heavy Nasdaq was down 0.6%. At press time, S&P 500 and Nasdaq futures traded flat.
Ethereum saw a more robust surge in prices compared to Bitcoin recently as FOMO built up around the upcoming merge. The merge is a reference to Ethereum’s move to a proof-of-stake mining model from the current proof-of-work mechanism.
Michaël van de Poppe noted that ETH was the “actual asset” propping up the market amid the merge buzz. The cryptocurrency trader expects the second-largest coin to continue towards the $2,500 mark and Bitcoin towards the $30,000 …
Full story available on Benzinga.com