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    Bitcoin (BTC) has bullish day after Fed speech; new Ethereum update scheduled for midnight

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    Daily summary on Bitcoin, the cryptocurrency market and decentralized finance (Image: Unsplash/Kanchanara)

    O Bitcoin (BTC) made strong advances after the release of inflation data in the United States. The cryptocurrency has a positive daily range of 2.93% at $23,918. The market reacted positively to the Consumer Price Index in the United States (CPI), released on Wednesday (10).

    The country’s retail inflation was stable in July, after rising 1.3% in June. As a result, on an annual basis, inflation continues to accumulate 8.5%, below market estimates of 0.2% and +8.7%.

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    O Ether (ETH), crypto asset from the network smart contracts Ethereum, shows even stronger valuations than Bitcoin. Its variation on the day is 8.5%. The crypto asset is currently priced at $1,857.

    The Goerli network is the third and final testnet to be updated – and to pass through The Merge. The update is scheduled to take place at 1:51 UTC (or 00:30 GMT).

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    According to data from CoinMarketCap, the market capitalization of the sum of all cryptoassets increases by almost 4% to $1.13 trillion.

    Bitcoin decreased dominance of Marketplace on top of Ether, and Ether has increased its dominance over the market. The dominance of bitcoin and ether is, respectively, 40.1% and 19.9%.

    “Fear & Greed” Index – how is the feeling of fear in the market?

    The “Fear & Greed” index, or fear and optimism, seeks to represent these feelings that surround the market. The index scale is from 0 to 100 points, where the closer to zero the fear is extreme, and from 100 the optimism reigns:

    Latest Crypto Fear & Greed Index

    Today, the index goes against the market’s screen price and drops 11 points, going from 42 to 31. Currently, the index has left the “extreme fear” zone, to just “fear”.

    Bitcoin (BTC) Onchain Data

    According to the data analysis website of blockchainBlockchain.com, the hash rate – the maximum capacity a miner can produce – per second has increased since yesterday to 217,088 EH/s.

    Today, the cryptocurrency’s blockchain had about 277,820 confirmed transactions on the network and an estimated volume of 144,975 BTC moved in those 24 hours.

    Ethereum (ETH) Onchain Data

    Currently, based on the “etherscan.io” network block explorer, the network mining difficulty is 11,892.33 TH.

    The network hashrate is 923,039.12 GH/s, an average rate of 36 Gwei, or $1.40, and 1,672.80 M (13.2 Transactions per second).

    Onchain Data of “Ethereum 2.0”

    As per the Beacon Chain block explorer – a proof-of-stake consensus layer chain that will be implemented on Ethereum (ETH) after The Merge – the network has 412,948 active validators, 13,214,224 Ethers in “stake” and an average of 33.73 Ethers per active validator.

    The last case of “Slashing” – withdrawing Ethers from the validator as a way to punish malicious activity on the network – occurred 1 day ago. The validator had 34.98 ETH on its balance.

    Decentralized Finance (DeFi)

    the sector of decentralized finance (DeFi) was discharged daily. The total amount locked in DeFi, according to the website Defillama, is US$ 69.5 billion, a positive daily variation of 1.29%.

    The protocol that has the most dominance, in terms of TVL, is Maker DAO (MKR), a decentralized lending platform, with a 12.91% DeFi market share and $8.97 billion locked into the protocol for liquidity. A positive 3.25% daily change in your TVL.

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    Disclaimer

    Money Times publishes informative articles of a journalistic nature. This publication does not constitute an investment recommendation.

    Source: Moneytimes

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