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Governments all over the world continue to fight high inflation and financial markets remain uncertain. A new report by the World Bank predicts that global growth is slowing sharply and likely more countries will fall into recession.
Cryptocurrency prices are down amid the current trends. The total crypto market cap stands at around $889 billion at the moment. Bitcoin trades at around $18,400, dropping by over 16% in the last 7 days. The price of Ether fell by nearly 26%. Currently, the coin trades at around $1,300.
On September 15, the Ethereum blockchain underwent the much-awaited update, called the Merge. Now, Ethereum relies on Proof-of-Stake consensus mechanism, which means mining is no longer used for transaction validation.