8/10, 3:54 PM (Source: TeleTrader)
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Ether at 2-month high after US inflation figures

Prices of cryptocurrencies increased on Wednesday after the annual inflation rate for the month of July in the United States decelerated compared to the June reading.

The lower-than-projected rise in consumer prices sparked optimism that the Federal Reserve may ease interest rate hikes in upcoming meetings, which in turn seemingly increased the demand for tech shares and digital currencies, assets deemed risky.

Ether rose by 7.45% to $1,830.0162 at 9:20 am ET, after hitting a daily high of $1,839.3544, its highest level since June. Bitcoin went up 3.77% to $24,032.044 at the same time.

Baha Breaking News (BBN) / MS