CoinLoan Weekly: BTC and ETH New Highs
According to CoinMarketCap, BTC’s 7 days price change is +13.93%, while its 24 hours change is +0.84%. As of August 9, at the time of writing, Bitcoin is $44,566.
Last week for BTC was quite a ride: if its first half was pretty stable with a price rise on August 5 (BTC reached $39,923), then the second one was all about rapid price changes. On August 8 Bitcoin reached $45,000 level for the first time since May, but then its price corrected a bit and the first cryptocurrency finished a week at $43,839 level.
Bitcoin price. Source: CoinMarketCap
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Last week ETH was following a similar trend with a more calm first half of the week and a fluctuating second one. All-week high was reached on August 8 ($3,184), and all-week low on August 3 ($2,466). Overall 7 days change for Ethereum is +18.46%, which is 4.5% higher than Bitcoin, and 24 hours price change as of August 9 is -2.37%. At the time of writing ETH is $3,076.
Ethereum price. Source: CoinMarketCap
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As of August 9, Ripple is $0.807, which is +0.51% price change in the last 24 hours. Through the week XRP price increased by 7.37%.
Ripple price. Source: CoinMarketCap
XRP all-week high was reached on August 8 ($0.838) and all-week low on August 4 ($0.697).
Depositing XRP in a CoinLoan Interest Account, you can earn up to 7.2% APY.
CoinMarketCap top 10 currencies’ performance during the week
Almost every cryptocurrency out of CoinMarketCap top 10 had a positive week.
ETH London hard fork took place on August 5
The London hard fork marked the rollout of 5 new Ethereum Improvement Proposals (EIPs): 1559, 3554, 3529, 3198 and 3541.
On the hard fork day, ETH reached a new two months high above $2,800 level, and on August 8 exceeded a $3,100 level for the first time since the May crash.
Analysts from Compass say that ETH miners can expect their income to decrease by 20–35%, but it will be compensated by the Ethereum price rise in the future.
Have a great week and stay tuned for the upcoming news, CoinLoaners!
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The information provided by CoinLoan (“we,” “us” or “our”) in this report is for general informational purposes only. All investment/financial opinions expressed by CoinLoan in this report are from the personal research and open information sources and are intended as educational material. All outlined information is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information in this report.
Originally published at https://blog.coinloan.io on August 9, 2021.