Cryptocurrency markets are back in the red again. The global market cap is down by 1.50 per cent over the last 24 hours and is at $895.90 billion as of 8:00 AM IST, CoinMarketCap data showed.
Bitcoin is down by 1.62 per cent and is trading at $19,865.
Ethereum also showed a downtrend and is at $1,116 after sliding down 2.49 per cent.
The USDT Tether showed 0.01 per cent negative change in its value over the last 24 hours.
Whereas the USDC stablecoins showed 0.02 per cent negative change and maintained its peg at $1.
The BNB token fell 0.64 per cent.
Solana fell by 2.62 per cent.
XRP Ripple witnessed a downtrend of 1.19 per cent over the last 24 hours.
The ADA token slid 3.30 per cent.
Despite getting listed on FTX Japan, Dogecoin fell 3.69 per cent over the last 24 hours.
The global cryptocurrency market cap has crashed to $889 billion levels. The market cap was at $3 trillion seven months ago at its all-time high.
Other crypto news
Because of the crypto market crash, the Bank of England has called for stricter crypto regulation.
Celsius Network, whose collapse was partially responsible for the crypto crash, has paid off another $40.8 million towards its Bitcoin loan. Their liquidation price has dropped to $2,722.06.
Circle, the organisation that mints the USDC stablecoin, says they hold 80 per cent of their USDC reserves in US Treasury bills and 20 per cent in cash within the US banking system.
CNBC host and popular financial commentator Jim Cramer has made a comment that crypto has no real value and NFTs are an awful asset.
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