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Bitcoin Falls Most Since June Plunge; Ether Slumps Before Merge

  • Stablecoin Tether is the most traded digital token on the day
  • Ethereum is poised for a software upgrade later this week
Bloomberg business news
What To Know About The Ethereum Merge
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Bitcoin tumbled more than 10%, the biggest decline since cryptocurrencies plunged in June, as the broad-based selloff in financial markets spilled over into the digital-asset sector. 

Ether fell almost 9% to $1,571 even as its underlying Ethereum network is poised for a long-anticipated energy-saving software upgrade. Tether, the largest so-called stablecoin, is the most traded token on Tuesday as investors seek shelter from the sector’s volatility. Other stablecoins such as Binance USD and USD Coin also saw a jump in volume.