Sunday, May 22, 2022
HomeBusinessCrypto Market Lost $100 Billion in One Day, Bitcoin Rolled to $40,000

Crypto Market Lost $100 Billion in One Day, Bitcoin Rolled to $40,000

Friday did not prove to be a good day for the cryptocurrency market. Bitcoin, the world’s most popular cryptocurrency, reached the $43 thousand mark on Thursday, but at that point investors rejected bitcoin. With a fall of about 3 thousand dollars, it came down to 40 thousand dollars. Similar is the case with most altcoins. Ethereum, the second popular cryptocurrency after bitcoin, is close to falling below $3 thousand, while BNB is stalled at $400.

of cryptopotato Report According to reports, on Monday this week, bitcoin had dived to $39 thousand. On Tuesday, it showed a rise and reached 41 thousand dollars. This bullishness continued and on Wednesday the price of bitcoin reached 42 thousand dollars. On Thursday, it reached 43 thousand dollars, which was the highest score in the last 11 days. However, it did not take long to change the times. This currency went down to about $ 3,000 in a few hours and its value on Bitstamp came down to $ 40 thousand.

It is currently at the same level, but a drop of more than 3% in a day means its market capitalization has fallen to around $775 billion. The currency which was performing well with bitcoin in the past has also fallen now.

Ethereum saw a 10-day high on Thursday. The coin was going to cross the $3,200 mark, but it is struggling to stay at $3,000 after the fall in price. Similarly Binance Coin which had reached close to $430, has now reached close to going below $400.

Same goes for Ripple, Solana, Terra, Cardano, Avalanche, Polkadot, Dogecoin and Shiba Inu. The overall crypto market cap has dropped to $100 billion from yesterday’s peak and is just below $1.9 trillion.

Talking about the cryptocurrency status in India, Union Finance Minister Nirmala Sitharaman has called for a global framework for it, so that crypto can be regulated and it can not be misused for money laundering or terrorism financing.

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