Cryptocurrency markets bleed red; ETH 10 % down, SOL 12 % down; when will bear run end?

Cryptocurrency markets have slipped down in the last 24 hours. The global market cap is down by 5.28 per cent in the last 24 hours and is at $1.20 trillion as of 7:30 AM IST, CoinMarketCap data showed.

Bitcoin is down by 2.40 per cent and is trading at $28,952.

 Ethereum also showed a major downtrend and is at $ 1,752 after sliding down 10 per cent.

The USDT Tether showed no change in its value in the last 24 hours. 

Whereas the USDC stablecoins showed 0.02 percent downward change and maintained its peg at $1.

The BNB token fell by a significant 8.55 per cent.

Solana fell by a significant 12.91 per cent.

XRP Ripple is also down by 4.69 per cent in the last 24 hours. 

The ADA token showed 9.91 per cent downtrend.

BinanceUSD, the stablecoin coin by Binance exchange showed 0.06 per cent downtrend in its value.

Dogecoin slipped by 6.58 per cent.

Overall, the major top tokens slid down from their positions in the last 24 hours.

As per latest announcements, Terraform Labs will burn the remaining TerraUSD supply. 

In other news, JPMorgan has started using blockchain for collateral settlements.

Furthermore, Thailand has implemented a 7 per cent VAT exemption on crypto transactions through exchanges until end of 2023.

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