Cryptocurrency Update: The cryptocurrency market was back in red at the start of the week followed by losses incurred by major crypto coins including Bitcoin, Ether, BNB and Solana. Bitcoin prices have been witnessing constant corrections after it rose to its peak of $69,000 during the later half of the previous years. The world’s most valuable cryptocurrency has not been able to move past the $45,000 mark for a while now, as traders remain to be cautious about risk assets amid another wave of the Covid-19 pandemic. This has also set off a downward trajectory in the cryptocurrency market cap, which has been seeing constant drops.
One unit of Bitcoin, the world’s largest cryptocurrency by market price, slightly fell to $42,745.73. This was down by 0.56 per cent over the last 24 hours but 2.51 per cent up over the last seven days, according to global crypto tracking website CoinMarketCap. “Bitcoin’s dominance is currently 39.53 per cent, nan increase of 0.12 per cent over the day,” mentioned the platform in a note on its website.