The global crypto market capitalisation went down by 3.21 per cent to $1.25 trillion as of 8.50 am. The global crypto trading volume was down by 10.94 per cent to $74.15 billion, as per Coinmarketcap data.
In other news, Preston Van Loon, a core developer of the ETH blockchain network said at the Permissionless conference hosted by Blockworks at Palm Beach, USA that the network’s transition from Proof of Work to Proof of Stake would occur sometime in August. This transition event is being called ‘The Merge’.
Loon, said at the conference, “As far as we know, if everything goes to plan, August — it just makes sense. If we don’t have to move the difficulty bomb, let’s do it as soon as we can,” reported Cointelegraph.
Ethereum core Dev @preston_vanloon just said the eth merge is ready,they are now only testing, and expects the merge to happen in August. Packed room @Permissionless are excited about it. Great question @TrustlessState. Also on panel @drakefjustin pic.twitter.com/vX4beNatJ5
— Benjamin Cohen (benjicohen.eth) (@benjicohen421) May 19, 2022
Cryptocurrency Prices
Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $29,217.55, lower by 3.51 per cent in the last 24 hours. ETH was down by 3.3 per cent at $1,958.29.
Among other significant coins, Cardano (ADA) was down by 2.96 per cent at $0.5159, Algorand (ALGO) was trading with a loss of 3.31 per cent at $0.4332, Solana (SOL) was trading with…
