Price point
Bitcoin (BTC) continued to trade below the $20,000 mark on Tuesday as stock futures inched higher following the Labor Day long weekend. Ether (ETH) outperformed bitcoin as Ethereum co-founder Vitalik Buterin tweeted the Bellatrix hard fork would take place today. The Bellatrix will “prepare” the chain for the upcoming Merge.
Ether was up 7% over the last 24 hours, compared to bitcoin which was up 1%. Other altcoins also outperformed the world’s largest cryptocurrency on Tuesday, with ethereum classic (ETC) surging 27%. Avalanche’s AVAX was up 7% and Lido DAO, a liquid staking system for Ethereum, was up 13%.
DeFi giant Aave stopped loaning ether ahead of the Merge. The community is worried that users might increasingly borrow ether ahead of the Merge, exposing the protocol to liquidity issues and injecting volatility into Lido’s staked ether market.
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