Recovery in crypto markets slows down; BTC, ETH, BNB see slight downtrend
The recovery in crypto markets has slowed down. The global market cap is down by 0.29 per cent in the last 24 hours and is at $ 900.84 billion as of 7:30 AM IST, CoinMarketCap data showed.
Bitcoin is down by 0.55 per cent and is trading at $20,413.
Ethereum also showed downtrend and is at $ 1,101 after sliding down 1.79 per cent.
The USDT Tether showed 0.00 change in its value in the last 24 hours.
Whereas the USDC stablecoins showed 0.01 per cent positive change and maintained its peg at $1.
The BNB token slipped 0.36 per cent.
Solana rose by an insignificant 0.87 per cent.
XRP Ripple witnessed an uptrend of 0.15 per cent in the last 24 hours.
The ADA token plummeted 4.03 per cent.
Dogecoin showed some decent uptrend. The cryptocurrency rose by 15.17 6.90.
The global cryptocurrency market cap has crashed to $ 900 billion levels. It’s worth noting that the market cap was at $3 trillion roughly seven months ago at its all-time high.
Because of the crypto crash, Bitcoin ‘Fear and Greed’ Index has dropped to 6, indicating extreme fear.
In other news, Coinbase has lowered payouts to social influencers due to “market conditions.”
TIME has partnered with Sandbox to build a ‘Times Square’ in the metaverse.
A Cloudflare issue is causing multiple outages across crypto exchanges.
According to data from Glassnode, Bitcoin mining revenues are currently 61 per cent lower than their yearly average.