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Ethereum bucked the trend, led by nearly 50%, and bitcoin recovered $22000 of lost land

Time : 30/07/2022 Author : n3j0tk Click : + -
        Coinmarketcap data shows that as of July 11, the chain activities of Ethereum, Solana and bnbchain have all significantly decreased. Among them, bnbchain has the largest pullback at present. Its daily trading volume has decreased by 58.2% compared with its highest value, while Solana and Ethereum have decreased by 18.1% and 13.7% respectively. Cryptocurrency is still in a bear market in the short term and has not changed. The reason for the recent rise of Ethereum is a topic that has attracted the most attention in the cryptocurrency field recently, "Ethereum main network upgrade". On July 15, a teleconference record of Ethereum developers showed that they were planning to launch the Ethereum consolidated version to all users of the blockchain on September 19. The purpose was to move the entire system from the proof of work (POW) consensus method currently used by Ethereum to the proof of interest (POS) process with a more stable environment, and the power required would be significantly reduced.
        According to coinmarketcap data, affected by this news, Ethereum rose by 13.36% and recovered $1200 of lost land. Ethereum's technology conversion is regarded as a major emotional benefit by the market, so it has the momentum of Ethereum leading the whole field in recent days. However, some market researchers pointed out that the rebound of Ethereum and bitcoin occurred at the weekend. Large financial institutions did not enter the main trading day, but were mainly driven by small funds. Although the price rose, the amount of funds entering the market fell instead. The key factor determining the future of cryptocurrency is the dynamics of the Federal Reserve at the macro level. From 26th to 27th of this month, the Federal Reserve will hold a new regular meeting on monetary policy.
        At present, various indicators for measuring the phenomenon of high inflation in the United States remain high. However, recently, various Federal Reserve officials have hinted that in order to curb high inflation, they may raise interest rates by 75 basis points for the second time in a row at the Federal Reserve's interest rate meeting this month. Some officials showed a cautious attitude toward whether to take more drastic interest rate hikes.
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