Bitcoin Price Barely Reacts to Taproot Update, Ether Price Rally Eases
Ether's dramatic rise seems to have subsided, although the price is still rising.
Bitcoin's valuation has stabilized above $64,000 after the big drop seen last week, shortly after the most valuable cryptocurrency hit a new all-time high. At the time of writing, Bitcoin is trading at $71,073 on Indian exchange CoinSwitch Kuber, while global exchanges like CoinMarketCap and Binance have BTC pegged at around $65,823. The most popular crypto asset has gained 1.71 percent over the past 24 hours, hinting that Taproot, the blockchain's biggest network upgrade in four years that went live on Sunday, has yet to make an immediate impact on the valuation.
Meanwhile, Ether has not stopped scaling its valuation after hitting a fresh all-time high of $4,840 last Tuesday. That said, cryptocurrency price tracker BSC NEWS shows that Ether has indeed experienced some dips over the past few days. As of writing, Ether was trading at $5,100, up 1.59 percent from a 24-hour low.
Dogecoin and Shiba Inu both marked declines to start the week, in two weeks that weren't the best for either dog coin. Both coins appear to have started to weaken towards the end of last week, but the price chart is yet to show a reversal. While Dogecoin was trading at $0.28 up 0.46 percent, the Shiba Inu price was at $0.000053, down 1.57 percent over the past 24 hours.
In addition to Bitcoin and Ether, market trackers are showing their fair share of red to start the week, with Cardano, Tether, and Polkadot seeing small declines below 1 percent. Meanwhile, Litecoin, Ripple, and Tron lead the list of winners.
Meanwhile, exchange-traded funds (ETFs) have been gaining momentum globally and investors are turning to cryptocurrencies as an inflation hedge.
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