Even though the largest and most well-known cryptocurrency in the world was trading more than 2% lower today, at $19,042, the price of Bitcoin managed to stay over the $19,000 barrier. Today, according to CoinGecko, the total value of all cryptocurrencies in existence was $968 billion, down more than 1% in the previous day, and therefore remained below the $1 trillion threshold.
Ether, the second-largest cryptocurrency and a token connected to the Ethereum network, meanwhile, declined more than 1% to $1,344. The euphoria surrounding an upgrade to the Ethereum network in mid-June caused an increase in the price of ether, which is now swiftly reversing. The Federal Reserve is likely to raise interest rates by a significant amount this week in order to fight price pressures, and markets are preparing for volatility.
Shiba Inu fell more than 2% to $0.000011 while Dogecoin was now trading at $0.05, up roughly 2%. Uniswap, Solana, Polygon, Avalanche, Binance USD, Polkadot, Litecoin, Apecoin, Cardano, Chainlink, Tron, and Tether prices were trading with gains over the last 24 hours, whilst XRP and Stellar gained. The behaviour of other cryptocurrency values today was uneven.
The second-largest stock exchange, Nasdaq Inc., is preparing to take advantage of the growing interest in digital currencies among wealthy investors by making its first significant foray into the space. According to Bloomberg, a new organisation focused on digital assets will first provide custody services to institutional investors for Bitcoin and Ether.