The cryptocurrency industry is leading and gaining popularity day by day. Everyone is investing in this and dreaming of becoming a crypto-millionaire. But what happened today will definitely be shocking for you, Bitcoin, Ethereum drop 1% each; Dogecoin rallies 11%.
To know about how bitcoin, Ethereum drop 1% each; dogecoin rallies 11%, keep reading.
Different types of Cryptocurrencies coins
Today morning (27 June 2022), the cryptocurrency market was trading with conflicting clues despite the light volume.
Over the past nine months, there has been a growing correlation between crypto-assets and general macroeconomic trends, which have deteriorated.
Investors continued to take solace in a few hints that the global economy was beginning to slow down, and there was a glimmer of hope that the Federal Reserve might be able to moderate its aggressive stance on the monetary front later in the year.
This provided a slight lift to investor confidence.
Bitcoin and Ethereum both experienced a decline of one percent, whilst Avalanche and Solana each experienced a decline of three to four percent.
Both Dogecoin and Tron saw price increases of 11% and 4% respectively.
In the previous twenty-four hours, the total market capitalization worth $51 billion of all cryptocurrencies had slightly decreased.
On the other hand, the total trading volume of cryptocurrencies increased by more than 15 percent to reach $57.19 billion.
The most significant cryptocurrency exchanges in India are ready for a protracted crypto winter, which will come with some unwelcome local twists.
As a result of falling token prices, customers' inability to transfer money into their accounts, and the impending implementation of a transaction tax on cryptocurrencies, cryptocurrency exchanges like WazirX have shelved their expansion ambitions for the time being.
Ethereum and bitcoin crash wallpaper
- According to research published by CoinShare, investors reduced their holdings in funds that are designed to profit from further losses in the value of bitcoin after the price of the cryptocurrency fell to its lowest level since the year 2020.
- Bitfarms, a Bitcoin miner, paid almost $62 million this past week to buy over half of their horde of the cryptocurrency in order to reduce its debt at a time when miners are feeling the pinch as a result of a decline in the value of cryptocurrencies.
- The chief executive officer of BlockFi, Zac Prince, said in a tweet that the cryptocurrency lending platform had received a revolving credit facility from FTX in the amount of $250 million.
- Magic Eden, the primary non-fungible token (NFT) market on Solana, has successfully completed a Collection B financing circular, raising a total of $130 million in the process. This funding round was co-led by Electrical Capital and Greylock.
Have you heard about the latest crypto news in which Bitcoin, Ethereum drop 1% each; Dogecoin rallies 11%? What was your reaction? Have you ever invested in cryptocurrency?
Have you heard about the seven deadly sins of cryptocurrency?