Cryptocurrency Updates: After the selloff over the weekend, the cryptocurrency market took a break on Monday, August 22. Investors kept considering the US Fed's latest hawkish statement on inflation concerns. After falling to USD 21,000 on poor inflation data in Europe, Bitcoin was able to hold it.
Bitcoin was able to hold the USD 21,000 mark, to which it plunged after disappointing inflation numbers in Europe. BNB increased by more than 5%, while Solana, Shiba Inu, and Polygon each had a 3% increase. Only Dogecoin was an alternative coin in red. The market capitalization of all cryptocurrencies was up slightly, trading at USD 1.02 trillion, up more than 1% from the previous day. However, the overall trade volume fell by over 18%, or USD 59.37 billion.
The weekend was quite gloomy for all cryptocurrency markets. Popular crypto values experienced significant declines on Friday and Saturday. According to Sathvik Vishwanath, co-founder and CEO of Unocoin, the prices have reached their lowest point in the entire month of August.
Global updates: The much-awaited Ethereum upgrade create new participants known as builders to the blockchain ecosystem, a move that could potentially change the power structure of what is perhaps the most significant crypto network from a business perspective.
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