Crypto Flipsider News — Market Update; ETH Staking Accelerates; Australia Token Mapping; Hoskinson’s Apology
Read in the Digest:
Market update: BTC and ETH consolidate. Today’s biggest gainer and loser
Ethereum staking speeds up, Ethereum Classic hashrate hits all-time high
Australia will use “token mapping” as a framework to regulate crypto
Ronin hackers convert stolen ETH funds into BTC using sanctioned mixers
Charles Hoskinson apologizes to the operators of Cardano stake pools
Market Update: BTC and ETH Consolidate. Today’s Biggest Gainer and Loser
The crypto market’s strong performance in August abruptly ended last week after the United States Treasury Department released its FOMC minutes. However, cryptos, led by Bitcoin, are now looking to stabilize.
After falling from a high of $24k to as low as $20,800 over the weekend, the price of Bitcoin is now back above the $21k mark. Bitcoin now trades at $21,300, after peaking at an interday high of $21,668.
The 24-hour price chart for Bitcoin (BTC). Source: CoinMarketCap
Unlike Bitcoin, Ethereum attempted to reclaim the $1,600 level, peaking above $1,640. However, unsustained bullish pressure has seen ETH plunge by 3.6% today to fall to its current price of $1,570.
The 24-hour price chart for Ethereum (ETH). Source: CoinMarketCap
While the majority of the crypto market is bearish, the award for the biggest loser goes to Celsius (CEL). The price of CEL has plunged by 25% in the last 24 hours and 40.2% in the last 7 days to fall to a new low of $1.5.
The 24-hour price chart for Celsius (CEL). Source: CoinMarketCap
EOS is the biggest gainer over the last 24 hours, raking in gains of up to 10% to trade as high as $1.58 while the broader crypto market plunges.