• Sun. Aug 14th, 2022

Cryptocurrency Prices Rise Today as Bitcoin, Shiba Inu Jump 8%, Uniswap Rally 28%

ByHazel R. Lang

Jul 28, 2022

Cryptocurrency prices surged today with Bitcoin trading above the $22,000 mark. The world’s largest and most popular cryptocurrency rose over 8% to $22,757. The global cryptocurrency market cap was over $1 trillion today, as it jumped more than 7% in the past 24 hours to $1.09 trillion, according to CoinGecko.

In contrast, Ether, the coin linked to the ethereum blockchain and the second-largest cryptocurrency, gained almost 13% to $1,614. Meanwhile, dogecoin price was trading up over 6% at $0.06 today, while Shiba Inu also jumped over 7% to $0.000011.

Ethereum’s long-awaited software upgrade has made the blockchain’s first offshoot an unexpected winner, sending prices for the latter’s token skyrocketing in recent days.

Ethereum Classic, which was created after a software change in 2016 known as a “hard fork” on the Ethereum blockchain, has seen its token’s price soar by as much as 30%.

The merger is set to bring 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. .

The performance of other crypto prices also improved today as XRP, Solana, BNB, Litecoin, Stellar, Chainlink, Apecoin, Avalanche, Polkadot, Tether, Polygon, Tron, Uniswap (up more than 28%) were trading with slight gains over the past 24 years. hours.

The UK needs to reform legislation to specifically address non-fungible cryptocurrencies and tokens, the country’s Law Commission has said, arguing that existing laws aren’t strong enough to govern the nascent sector, Bloomberg reported.

Authorities around the world are taking steps to regulate the crypto asset industry. Cryptocurrencies, such as bitcoin, rose in price in 2020 and 2021, but fell sharply this year. NFTs – blockchain-based assets that represent digital files such as images, have also proliferated rapidly. Rising interest rates and high-profile collapses like that of crypto hedge fund Three Arrows Capital have hit digital tokens this year.

Meanwhile, crypto exchange FTX US is expanding its fee-free stock trading service to all US users, including non-crypto investors, in a bid to expand its customer base and increase assets under custody.

(With agency contributions)

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