Bitcoin and ether were down 3% on the day, while the 90-day correlation coefficient between bitcoin and the Nasdaq index dropped to its lowest since January. LedesmaLyllah, willcanny99 and godbole17 report.
is a digital app that uses blockchain technology to keep users’ data out of the hands of the organizations behind it.
Coinbase says that if more user activity moves to layer 2s and those blockchains need their own tokens to enable transactions, that could reduce theyields to Ethereum validators , cutting their revenue. That could reduce staking on the platform and increase the amount of ether circulating, potentially damaging the cryptocurrency’s price. A decline in validators could also have a negative impact on the overall security of the network, the report said.
Bitcoin seems to be decoupling from traditional markets amid the optimism stemming from Ethereum's impending Merge.