Ether Leads Crypto Market Surge After CPI Report

Bloomberg Technology published this video item, entitled “Ether Leads Crypto Market Surge After CPI Report” – below is their description.

Bloomberg’s Katie Greifeld joins Emily Chang to break down how cryptocurrencies surged on Wednesday after a softer-than-expected inflation report, with Ethereum leading the pack.

Bloomberg Technology YouTube Channel

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About This Source - Bloomberg Technology

Bloomberg L.P. is a privately held financial, software, data, and media company headquartered in Midtown Manhattan, New York City. It was founded by Michael Bloomberg in 1981, with the help of Thomas Secunda, Duncan MacMillan, Charles Zegar, and a 12% ownership investment by Merrill Lynch.

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Ethereum is a decentralized, open-source blockchain with smart contract functionality. Ether is the native cryptocurrency of the platform. Amongst cryptocurrencies, Ether is second only to Bitcoin in market capitalization. Ethereum was conceived in 2013 by programmer Vitalik Buterin.

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In This Story: Inflation

In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

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