Ether (ETH), the second largest, hit an all-time high price above $3,500 early Tuesday before reversing, and later was off 5.4% to $3,242. Bitcoin (BTC), the largest cryptocurrency by market value, was changing hands at press time just below $54,000, down about 6% since 0:00 coordinated universal time.
Dogecoin (DOGE), the joke cryptocurrency that has surged in price this year to become the fourth-biggest digital asset by market capitalization, was one of just a few lone gainers amid the wipeout. As of press time, DOGE was changing hands at 55 cents, up 32% over the past 24 hours. According to Bloomberg News, traditional markets came under pressure as U.S. Treasury Secretary Janet Yellen said interest rates might have to rise to keep the economy from overheating – a move that could dampen traders’ willingness to take extra risk.
The News Highlights
- Crypto Markets, in addition to Dogecoin, join the US stock settlement as Yellen warns of fees
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