Ether , the second largest cryptocurrency, dropped 3% to a two-month low of $1,285 and is down more than 10% in the last 24 hours. Most other smaller tokens were deeper in the red.The Ethereum blockchain, which underpins the ether token, had a major upgrade over the weekend called the Merge that changes the way transactions are processed and cuts energy use.The token's value has fallen amid some speculation that remarks last week from U.S.
"It's speculation as to what might or might not happen," said Matthew Dibb, COO of Singapore crypto platform Stack Funds, on the regulatory outlook. "A lot of the hype has come out of the markets since the Merge," he said. "It's really been a sell-the-news type of event," he added, given the nervous global backdrop, and said ether could test $950 in coming months.
"Looking at the landscape right now, both fundamentally and technically, it's not looking great. There's no immediate bullish catalyst that we can see that's going to prop up these markets and bring in a whole lot of new money and liquidity."Reporting by Tom Westbrook; Editing by Kirsten Donovan
Source: Digital Coin News (digitalcoinnews.net)
broken cryptos lie
Wth? 19,000 *dollars*. Thought it was supposed to replace them. This just shows how much of a scam crypto is. Folks. Save your *dollars*.
Big fall
The lift is going down , basement is the destination.
It’s amazing how few Crypto fanboys are populating sites like Twitter and TicTok, etc these days. Where did they all go?
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