Bitcoin, ether edge higher

Ether rose 0.69 per cent to $1,809, maintaining the key $1,800 support level, but down 3.54 per cent over the last week

Price of bitcoin increased on Monday morning in Asia to more than $27k amid higher transaction fees because of congestion on the network. Ether managed to rise above the $1,800 support level while its blockchain developers state they have added updates to fix past week’s performance issues. Litecoin led the gainers amongst other leading non-stable coin crypto currencies. U.S. equity futures dropped on Friday as U.S. investors worry about a probable debt default.

Bitcoin added 1.15 per cent to $27,010 during the 24 hours to 9:30 a.m. in Hong Kong, as per CoinMarketCap data. The original coin posted a weekly decline of 5.18 per cent.

Over the weekend, the world’s biggest crypto currency in terms of volume saw a 2-month low, dropping to $25,964 on Saturday.

Ether rose 0.69 per cent to $1,809, maintaining the key $1,800 support level, but down 3.54 per cent over the last week.

The Ethereum blockchain experienced technical problems twice on May 11 and 12 that caused the network to stop finalizing blocks, concerning users of the blockchain’s performance stability.

On Saturday, Ethereum blockchain consultant Superphiz stated on Twitter that the problem — which seems to have been due to a high load on some Consensus Layers clients, which in turn was caused by an exceptional scenario — had been resolved.

Developers of Ethereum deployed updates in reaction to the tech issue, Superphiz said.

Other leading non-stablecoin crypto currencies were higher on Monday morning. Litecoin led the gains, advancing 3.97 per cent to $83.50. The bitcoin-like crypto currency faced a surge in interest because of the higher transaction fees impacting the world’s leading digital currency.

The total crypto market capitalization increased 0.43 per cent during the last 24 hours to $1.13trln. The total trading volume declined 3.02 per cent to $22.07bln.