Comprehensive Factors Towards Crypto Market Fluctuations – eToro Market Analysis

OUR STORY DISCOVER NEW AND UPDATED CRYPTO CURRENCIES Bitcoin prices dropped over the weekend and fell to $ 50,000 on Sunday before returning due to a sudden crash affecting major crypto assets. Bitcoin, Ethereum, and XRP, along with many other major altcoins, suffered a spike in the early Sunday morning, causing prices to drop sharply. Power outages in China, which caused a massive drop in the hash rate of the Bitcoin network, are cited as a possible cause of the big slowdown. Prices burst from their lows overnight, Bitcoin is around $ 55,000 at the time of writing, and colleagues like Cardano are also recovering, but both are down about 10% from their all-time high. The Ethereum hard fork price sends it to a record high, when Ethereum raised over $ 2,500 per coin last week, when the much anticipated Berlin hard fork went live. The second largest crypto asset by market capitalization exposed the hard fork to solve a major problem for the network: high gas costs. Gasoline prices have risen in the past 12 months, and users have seen transaction fees drop from less than 10 cents to $ 40 in February this year. Currently, the average wage is close to $ 19, but much higher than the minimum wage charged by peers like Cardano and Algorand. The network's hard fork changed the algorithm that calculates gas costs to reduce costs that could push users to other platforms. When Ethereum reached a new high, the sudden drop this weekend pulled the price down and caused it to trade around $ 2,250. Coinbase Main Market Lists Via IPO Coinbase has completed its IPO in the United States as the crypto asset market continues to enter traditional financial markets. Ben Laidler, EToro's global market analyst, said: “Coinbase's IPO is important for several reasons. First, it reflects the institutionalization and development of the crypto industry. The second shows what public procurement looks like Read more

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