Bitcoin decreases by 6 percent as FTX issues bankruptcy, Bin…

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(MENAFN) Bit­coin wit­nessed its price decrease more than 6 per­cent on Fri­day the cryp­to mar­ket was unsuc­cess­ful to regain from a mas­sive sell-off fol­low­ing the trou­bled cryp­tocur­ren­cy trade plat­form FTX filed for bankruptcy.

The cost of Bit­coin, the world’s biggest cryp­to by mar­ket size, was exchang­ing near­ly at USD16,760 at 11:45 AM EDT for a 6.1 per­cent day to day decrease.

Ethereum, the largest alt­coin across the world, was sell­ing at about USD1,246 at the time for a 6.3 per­cent day to day decrease.

The over­all worth of the cryp­tocur­ren­cy mar­ket was 6 per­cent low­er to USD844 bil­lion through­out that time, as shown by fig­ures from the dig­i­tal asset price-track­ing web­site CoinMarketCap.

Some alt­coins wit­nessed their val­ue falling by a range of 15 per­cent to 20 per­cent in the last 24 hours.

FTT, FTX’s token, wit­nessed its val­ue drop 89 per­cent in the last week, where­as it was 31 per­cent low­er for the day.

The major sell-off began on Tues­day when FTX enquired for sup­port from the com­peti­tor Binance, due to liq­uid­i­ty prob­lems. Binance declined the buy­out agree­ment on Wednesday.

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