7/18, 7:39 AM (Source: TeleTrader)
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Ether soars 7% as inflation concerns mount

The world's leading cryptocurrencies rose on Monday, days after the release of the US CPI report, and on concerns that inflation may persist. Ether (ETH), which some crypto investors consider an inflation hedge, was up over 7%.

Last week, the Labor Statistics Bureau said that the annual inflation in the United States went up by 9.1% in June, reaching the highest level since November 1981. In addition, there is an increasing concern that inflation could rise further in Europe and other parts of the world.

Bitcoin surged 4.20% at 1:41 am ET, selling for $21,672, while Ether rose 7.35% to go for $1,434.72 at the same time.

Baha Breaking News (BBN) / JG