Cryptocurrency Prices Today: Bitcoin, Ether Fall While Dogecoin, Shiba Inu, Polkadot Gain

The cryptocurrency price fell below the $24,000 mark with bitcoin trading today. Bitcoin, the world’s largest and most popular cryptocurrency, rose more than 2% to $23,437. According to CoinGecko, the global crypto market cap was above the $1 trillion mark today, even though it was almost flat over the past 24 hours at $1.14 trillion.

On the other hand, Ether, the coin and the second largest cryptocurrency tied to the Ethereum blockchain, fell nearly one percent to $1,694. Meanwhile, Dogecoin price was marginally higher today at $0.07, while the Shiba Inu also gained over 3% to $0.0000012.

Ethereum is closer to using staked coins in a more energy-efficient system than the current system of using miners. The switch to this so-called proof-of-stake system is expected in September. The merge is set to move Ethereum to a system called Proof of Stake, in which staked Ether tokens will order transactions, from its current system called Proof of Work, a mechanism that uses powerful computers to order transactions. does.

XRP, Solana, BNB, Litecoin, Stellar, Chainlink, Avalanche, Tether, Polygon, Uniswap among other crypto prices had mixed performance today with price cuts in the last 24 hours, while Polkadot, Apcoin, Tron gained .

Southeast Asia-focused cryptocurrency exchange Zipmex filed for bankruptcy protection in Singapore last week, becoming the latest victim of a global slowdown in digital currencies. After being suspended on July 20, Zipmex resumed withdrawals last month, and said it was working to address its $53 million exposure to crypto lenders Babel Finance and Celsius.

Zipmex, which operates in Singapore, Thailand, Indonesia and Australia according to its website, is the latest in a string of crypto players globally who are facing difficulties following a sharp sell-off in markets that began in May with the collapse of the two paired tokens. running in. Luna and TeraUSD.

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Many crypto companies have filed for bankruptcy or have been forced to seek emergency capital investments. Rising interest rates and high-profile meltdowns like crypto hedge funds Three Arrows Capital have outperformed digital tokens this year. The price of cryptocurrencies like bitcoin rose in 2020 and 2021, but has declined sharply this year.

(with inputs from agencies)

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