Cryptocurrency values continue to tank and Ether, Solana lost huge chunks of their values. The situation was no different today with both the big boys, Bitcoin (BTC) , Ethereum(ETH) values tanking by huge volumes. Yesterday’s losses continued and Solana and Ether were the biggest losers.
Cryptocurrency Values-Bitcoin(BTC) Values Tank For The Second Day
The global cryptocurrency scene was grim and global cryptocurrency market contracted down by 3.19 per cent over the past 24 hours and stood at $1.20 trillion. The number one crypto-asset, Bitcoin (BTC) was changing hands at $28,583.03 representing a fall by 3.64% in the past 24 hours and a fall of 4.19% in the past one week. The BTC market cap was $544,927,037,260 and a volume of $28,393,825,973 in the past 24 hours. The circulating supply was 19,064,706 BTC.
Cryptocurrency Values Tanking On Worry Of Economic Slowdown
Investors are undecided and cryptocurrency prices continue to be in the zone of instability with worries of surging inflation coupled with an economic slowdown. The short bursts of volatility are instances which have been precipitated by the macro-economic conditions and the market players are reacting to the conditions but within a tight range. This was the assessment of said Darshan Bathija, CEO and co founder of Vauld.
Bitcoin (BTC) continues to be a cause for anguish and since early hours today has stayed below the psychological levels of $30, 000. The present situation comes after the number one crypto currency fell by 3.64% per cent to stand at $28,583.03.
The fortunes of the number two Crypto asset is no different and Ether price today took a sharp hit and was standing at $1,525.88 which represented a steep fall of 12.24% in the past 24 hours. The Number Two crypto asset fell by 14.31% in the past one week. The Market Cap of ETH was $185,369,490,100 and a volume of $21,014,883,337 in the past 24 hours and a circulating supply of 121,132,819 ETH