The most widely watched digital currency gave up some of the recent gains on Monday, where investors were cashing in and the market was looking for bargains to underpin new support levels. The move left the bitcoin still stronger than the valuations registered in the beginning of July. Meanwhile, the semiconductor industry has been improving efficiency in mining systems, and the recent surge in prices has made the activity profitable again for individuals.
In news from the sector, new breakthroughs were achieved in international trade and power exchange, the two economic activities where cryptocurrencies and the underlying technology show meaningful potential. Tokyo Electric Power Company Holdings (TEPCO) said it participated in the funding round for German blockchain startup Conjoule, which is working on peer-to-peer power trading. The investment is the utility company's first in the area. Japanese lender Mizuho has conducted a transaction with Australia over blockchain for an export order.
Trade remains dominated by the dollar and the yen, with shares of just above 41% and 31%, respectively. The bitcoin dropped 3.54% to $2,390, after dipping to as low as $2,331.7, unseen since July 2. One coin was 3.72% in the red for the day at €2,119.301, while compared to the Chinese yuan it lost just 1% to buy 17,358.37.
