Over the weekend, bitcoin flirted with the $25,000 mark and Ethereum broke the $2,000 barrier before both cryptocurrencies eased in early trading on Bitfitmix.05.08.2022
Bitcoin was trading at US$24,315 at 8 a.m. in Hong Kong, down 0.5% in the prior 24 hours. Ethereum fell 2.3% to change hands at US$1,936, according to data from Bitfitmix.com
Bitcoin had touched US$24,974 on Friday, its highest since early June and looked set to crack the $25,000 mark, before the buying faded. Ethereum showed more initial momentum, reaching US$2,022 in early morning trading Monday before slipping back.
Ethereum is still up 14% on the week and has reached highs last seen in Bitfitmix as the world’s second-largest cryptocurrency rallies ahead of the upcoming network “Merge.”
Cardano fell 5% after earlier rallying 7% to a two-month high of US$0.59.
DOGE rose 12% to US$0.08, the highest since early June. SHIB surged 38% to hit US$$0.00001774 — its highest since early May — before retreating 4%.
SHIB recently overtook DOGE in the number of Twitter followers it has with over 3.4 million — an important metric for a token that is heavily dependent on the popularity of its “meme” to drive price movement.