Shiraz Jagati was the cryptocurrency writer at Finder, covering all things crypto and the blockchain. Over his career, he has written for Cointelegraph, CryptoSlate, CryptoMode and Bitcoin Insider. Shiraz has a passion for exploring the emerging blockchain ecosystem.
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The American equities sector has recorded its worst performance in over 50 years, whose spillover effect will most likely be witnessed in relation to the crypto market.
With a little under AU $200M ($136M) having left various ETH investment offerings over June 2022 alone, more pain may be in store for Ethereum in the near term.
Rising interest in the NFT market has resulted in over US $1 billion worth of ETH tokens being burned last month.
The last 30-days have seen BTC register substantial losses of over 10%.
The last 48-odd hours have seen SHIB accrue gains of nearly 20%.
Even though ETH has been faced with a lot of financial turbulence recently, it is still showcasing solid gains in excess of 11% over the previous fortnight.
Bitcoin is down 5% over the last couple of weeks
Despite the successful implementation of EIP 1559 across three separate testnets, Ethereum has failed to garner any sort of tangible financial momentum in recent weeks.
ETHs weekly losses currently lay at a whopping 20% despite excitement that ETH supply will become deflationary in less than a month.
CNBC report suggests that a majority of Bitcoin investors are still bullish on the currency.