Bitcoin dipped below $19,000, while Ethereum fell 10%, now just $1,300. Some experts believe that the Ethereum merger was not undertaken at the right time.
All major crypto tokens are trading in dark red. Ethereum, Polygon, Shiba Inu, Cardano and Avalanche plunged 10-11%. Dogecoin, Solana, XRP and Polkadot plunged 7-9%.
The global cryptocurrency market capitalization was trading significantly lower at $909.80 billion, falling as much as 7% in the past 24 hours. However, the total trading volume soared by around 45% to nearly $69.53 billion.
The European Central Bank has chosen five organizations to help develop user interfaces for a potential digital euro. Organizations include Amazon and the European Payments Initiative. Two Sigma Ventures has announced plans to invest $400 million in two new venture capital funds, confirming that crypto investments will be included, some crypto publications have reported.
An accounting bug at Binance resulted in a windfall in Helium Network’s native HNT token for some users and shouldered the world’s largest crypto exchange with a multi-million dollar shortfall, according to people familiar with the matter.
In stark contrast to the mostly flawless execution of the Ethereum merger, technical snafus and defections have marred the new blockchain being âforkedâ by crypto miners aiming to preserve the old proof-of-work network.