Cryptocurrency market capitalization remained relatively stable at $1.03 trillion amidst world markets that appeared more or less directionless. While crude oil and Dollar surged, gold retreated. Stock markets moved rather mixed. While the drop in PMI readings and new home sales in the U.S. pressured the Dollar, hawkish comments from some Fed officials and expectations of strong rate hikes by the Fed helped the greenback recover.
Crypto market capitalization moved in the narrow range between $1.04 trillion and $1.02 trillion.
Bitcoin is currently trading at $21,453.67, up 0.09 percent on an overnight basis. The leading cryptocurrency is however trading lower on a weekly (9.2%), monthly (2.2%) and year-to-date basis (55%).
Bitcoin traded between $21,195 and $21,646 in the past 24 hours. The percentage of BTC holders in loss reduced to 46 percent from 47 percent a day earlier.
At the current trading price of $1,652, Ethereum is 2 percent higher on an overnight basis and 8 percent higher on a monthly basis. However, Ether has made losses of 11 percent in the past week and 56 percent on a year-to-date basis.
Ether traded between $1,610 and $1,666 in the past 24 hours. The percentage of ETH holders in loss reduced to 42 percent from 43 percent a day earlier.
Meanwhile the Ethereum Foundation has in a blog post announcement on Wednesday, confirmed the Mainnet merge. According to the announcement, the transition, known as The Merge, must first be activated on the Beacon Chain with the Bellatrix upgrade. After this, the proof-of-work chain would migrate to proof-of-stake upon hitting a specific Total Difficulty value. The Bellatrix upgrade is scheduled for Sept 6, 2022. The Terminal Total Difficulty value triggering The Merge is expected between Sept 10-20, 2022.
92nd ranked Ankr (ANKR) gained the most in the past 24 hours, having rallied more than 14 percent.
53rd ranked Helium (HNT) Helium, a decentralized blockchain-powered network for Internet of Things (IoT) devices gained 12 percent in the past 24 hours. The crypto coin is tagged to Enterprise Solutions, Distributed Computing, and Web3 categories.
75th ranked Ziliqa (ZIL) has added 6.4 percent overnight and 4.5 percent in the past month. The crypto coin of the public, permission-less blockchain claims to be the home to many decentralized applications.
94th ranked XDC Network (XDC) has also gained more than 5 percent overnight.
Except for 33rd ranked EOS (EOS) that declined 6.8 percent and 64th ranked Synthetix (SNX) that dropped 2.4 percent, 28th ranked Monero (XMR) that dropped 2.1 percent, no cryptocurrency among the top 100 have made overnight losses of more than 2 percent.
3rd ranked Tether (USDT), traded between $1 and $0.9999 in the past 24 hours. 4th ranked USDCoin (USDC), traded between $1.00 and $0.9996 in the past 24 hours.
5th ranked BNB (BNB) edged down 0.6 percent overnight to trade at $296.36.
Binance USD (BUSD), ranked 6th overall traded between $1.00 and $0.9995.
7th ranked XRP (XRP) added 0.1 percent overnight. 8th ranked Cardano (ADA) and 9th ranked Solana (SOL) dropped close to half a percent.
10th ranked Dogecoin (DOGE) is trading with losses of more than 1 percent.
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