The cryptocurrency declined on Tuesday after a rally in the past few weeks. The prices of Bitcoin and Cardano were down nearly 3 percent. The global crypto market cap fell to $157 trillion. With this, the value of the total crypto market decreased by $ 74.98 billion.
After Ethereum crossed the $2,600 mark yesterday, it seems that it is on the path of recovery. Ethereum is up almost 40% from lows of $1,750. A part of the recent recovery can be attributed to the London Hard Fork. According to ZebPay Trade Desk, traders and investors see the EIP-1559 launch as a bullish signal for Ether as it is likely to reduce gas fees. Miners will be most affected by the EIP-1159 upgrade as it will eliminate a portion of the fees they generate on the blockchain, thereby reducing their revenue.
By 9.30 am today, the price of bitcoin was down by 2.89 percent and it was trading at $ 38,669. After this, the biggest fall came at the price of Cardano. It recorded a decline of 2.79 percent. Its price fell to $ 1.28. Dogecoin was at number three. Its prices broke 2.21 percent and it was trading at $ 0.20.
At the same time, the price of Binance Coin fell 1.30 percent to $325. Ethereum prices also fell by 1.12 percent and stood at $ 2533. The prices of all the top-10 cryptocurrencies have fallen.
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