Cryptos Today: Bitcoin Drops After Touching $25K; Ethereum drops 5% and Shiba Inu shoots 30% over the weekend

Bitcoin (BTC) reached $25,000 for the third time in four days over the weekend, but lost strength again and this Monday (15) struggles to maintain $24,000, with a drop of more than 2% in the accumulated 24 hours.

The world’s largest cryptocurrency by market cap has entered its third straight week of gains as investors remain cautiously optimistic about recent US economic indicators showing inflation slowing and a lower likelihood of recession.

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“BTC’s resilience above $20,000 has seen bulls pushing for more upside, especially after a successful retest of this range,” Joe DiPasquale, CEO of crypto fund manager BitBull Capital, told CoinDesk. “However, we are yet to witness the break above $25,000, which could see BTC move quickly into the $29,000 to $30,000 range.”

Ethereum (ETH), meanwhile, is down more than 5% to around $1,900, despite still maintaining an appreciation of almost 60% in the last 30 days. Over the weekend, before the market lost steam, the cryptocurrency even surpassed the $2,000 level.

Behind the Ethereum movement is optimism about the Merge update, which was anticipated by developers and should happen between September 11th and 15th – previously, the change was expected to start from the 19th. of next month.

The update will transform the proof-of-work (PoW) protocol into a faster, lower-power, proof-of-stake (PoS) model. Ethereum completed its third and final testnet network merger, Goerli last Wednesday.

Among the altcoins, Dogecoin (DOGE) and Shiba Inu (SHIB) drew attention over the weekend, which had gains of 15% and 30%, respectively, although there is no specific news that explains the sharp movement. .

Check out the performance of the main cryptocurrencies at 7 am:

cryptocurrency Price Change in the last 24 hours
Bitcoin (BTC) US$ 24,170 -2.29%
Ethereum (ETH) US$ 1,906.76 -5.03%
Binance Coin (BNB) US$ 317.81 -3.52%
Cardano (ADA) US$ 0.5546 -5.71%
XRP (XRP) US$ 0.3708 -5.10%

Cryptocurrencies with the biggest gains in the last 24 hours:

cryptocurrency Price Change in the last 24 hours
Unus Sed Leo (LEO) $5.34 +5.15%
Stepn (GMT) $1.01 +1.16%
Shiba Inu (SHIB) US$ 0.00001576 +1.87%
Ankr (ANKR) US$ 0.04538 +0.23%

Cryptocurrencies with the biggest drops in the last 24 hours:

cryptocurrency Price Change in the last 24 hours
Celsius (CEL) $3.07 -20.26%
The Graph (GRT) US$ 0.1355 -8.53%
Uniswap (UNI) $8.66 -8.07%
Theta Network (THETA) $1.50 -8.06%
Curve DAO Token (CRV) $1.35 -7.74%

Check out how cryptocurrency ETFs closed in the last trading session:

ETF Price Variation
Hashdex NCI (HASH11) BRL 22.55 -1.95%
Hashdex BTCN (BITH11) BRL 29.34 -1.34%
Hashdex Ethereum (ETHE11) BRL 29.19 +0.30%
Hashdex DeFi (DEFI11) BRL 27.53 -2.58%
Hashdex Smart Contract Platform FI (WEB311) BRL 23.30 +1.30%
QR Bitcoin (QBTC11) BRL 7.81 0.00%
QR Ether (QETH11) BRL 7.09 -0.56%
QR DeFi (QDFI11) BRL 5.28 -1.30%
Crypto20 EMPCI (CRPT11) BRL 6.15 +0.81%
Invest NFTSCI (NFTS11) BRL 34.55 -0.02%

See the main crypto market news for this Monday (15):

XP crypto platform goes live

Xtage, XP Inc.’s cryptocurrency trading platform, officially went live on Monday and is available to all customers with an XP digital account, allowing Bitcoin and Ethereum trading.

Announced in May, the platform is partnered by Nasdaq for its technology base and is fully integrated into the XP application. From now on, investors will have the “Crypto” tab, where it will be possible to quickly buy and sell assets, in addition to consulting their statement and position.

The system will work 24 hours a day and in the near future will also feature integration with MetaTrader 5, one of the largest trading platforms in the world, allowing customers to use proprietary algorithms and robots to buy and sell Bitcoin and Ethereum via Xtage.

Acala stablecoin collapses 99% after hacker attack

Acala’s native stablecoin, aUSD, from the Polkadot (DOT) blockchain-based decentralized finance (DeFi) platform, dropped 99% on Sunday after hackers exploited a “bug” in a newly deployed liquidity pool to mint. 1.28 billion tokens.

According to the developers at Acala, the bug was caused by a misconfiguration of the iBTC/aUSD liquidity pool shortly after the launch on Sunday. A liquidity pool is a digital stack of cryptocurrencies locked into a smart contract, which results in the creation of liquidity for faster transactions on decentralized exchanges (DEXs) and DeFi protocols.

After realizing the attack, the Acala team disabled the functionality to transfer the remainder of “aUSD that was incorrectly minted” in the parachain, that is, an individual network that works in parallel to create an interoperable ecosystem.

Monero receives update

The update of one of the most popular privacy protocols in the cryptocurrency world, Monero (XMR), was completed on Saturday. O hard fork (fork) took place in block 2,688,888 and enhances the network with a number of new privacy-preserving features.

The number of subscribers for a ring signature has increased from 11 to 16 for each transaction. Ring signatures are digital signatures that can be produced by any member of a group.

Together, they form a unique signature and, as a result, it becomes computationally infeasible to determine which key (from this group) was used to create the signature. This feature makes it impossible to trace the origin of a transaction on Monero.

How far will cryptocurrencies go? What’s the best way to buy them? We have prepared a free class with step by step. Click here to watch and receive InfoMoney’s cryptocurrency newsletter

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