In crypto, Ethereum, Ethereum Classic, and Bitcoin post modest gains

Crypto top 100 gainers during Friday morning Asian trading included Ethereum and Ethereum Classic at the top of the list. Bitcoin traded sideways at the bottom of the list. Crypto markets rose 1.3% to €1.04 trillion while investors remain uncertain about the Fed’s impending guidance on interest rate rises.

Fast facts

  • From Ethereum Classic, which forked into Ethereum main net, the price rose 5% to € 37.20 ahead of “the Merge,” in which proof-of-stake will replace proof-of-work consensus.
  • According to a recent blog post from the Ethereum foundation, the “Bellatrix” upgrade is scheduled for activation on Sept. 6 and the Ethereum main net merge between Sept. 10 and 20.
  • The metaverse token Shiba Inu rose 6.6% to  € 0.00001392, while Dogecoin rose just 1.6% to € 0.069. Cardano’s ADA was up 1.4% to  € 0.46, as Solana and XRP rose less than 1%.
  • Fed Chairman Jerome Powell’s keynote address at the central bank’s annual economic conference will be closely watched by the U.S. Investors are invited to attend a symposium in Jackson Hole, Wyoming, at 10 a.m. Eastern Time (10 p.m. Hong Kong) on Friday for an indication of how interest rates might change.

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