The Crypto Report: Ethereum’s pre-Merge bull run on pause as Bitcoin drops another 2%

Ethereum seems to have lost some pre-Merge goodwill, having dropped another 1.5% this morning, bringing its exchange price close to the mid-US$1,500 point.

Bitcoin fell below US$21,000, having lost around 2%; similar price action was observed with Ripple XRP, Cardano, Dogecoin, Polkadot, and other blockchain network tokens.

Solana mounted greater losses of nearly 5%, dragging its market capitalisation down to US$12bn.

The EOS network, on the other hand, continued to rally, adding another 15% to its market cap, which now sits at close to US$1.5bn.

The rally comes amid a hard fork and rebranding campaign.

Cosmos also added green candlesticks, with the highly scalable blockchain network adding 7.5%.

Checking in on the Celsius short squeeze, the bears remain firmly in charge, having driven CEL token down another 25% in the past 24 hours.

In the decentralised finance (DeFi) space, Curve and Lido added 5% and 3.5% respectively, although DeFi in general is trending downwards, with total volumes heading towards the US$60bn point.

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