8/20, 1:37 AM (Source: TeleTrader)
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Ether falls more than 12%

The second largest cryptocurrency in the world, Ether (ETH), recorded new losses, falling more than 12% during the day and marking its lowest value in a little more than two weeks. The drop was also marked in the value of Bitcoin, which sank more than 9% after previously reaching its three-week low.

The two largest cryptocurrencies have been falling the entire week. Although the exact reason is not known, analysts suggest the decline could be related to the latest Federal Reserve minutes from its July meeting and the fact that Ether's Merge, referred to by some as one of the biggest events in the crypto industry this year, is expected to happen very soon - next month.

Bitcoin fell by 9.61% at 7:22 pm ET, selling for $20,975, while Ether dropped 12.20% to go for $1,620.71 at the same time.

Baha Breaking News (BBN) / MM