The crypto market had a rough start to Thursday as various coins faced a price downfall. Crypto giants Ethereum and Bitcoin continued their price downfall as Bitcoin fell below $24,000, and Ethereum’s price saw a 3% decrease from the previous day. The two largest cryptocurrencies declined for the fifth consecutive day on Thursday. Livemint reports that Bitcoin stood at $23,428, with the global crypto market cap at $1 trillion. Ethereum, the second largest cryptocurrency, was trading at $1,849, a 3% decrease over the last 24 hours. Ethereum’s price slip is ominous for the mid-September merge, and investors are worried.
Dogecoin and Shiba Inu joined the party
Livemint reports that Dogecoin’s price faced a 5% decrease on Thursday, trading at $0.08. Shiba Inu continued the previous trend at a 9% downfall; its price now stands at $0.000015. Other cryptocurrencies include BNB, Tether, Avalanche, Polygon, Apecoin, Chainlink, XRP, Uniswap, Tron, Litecoin, Polkadot, and Stellar displayed a price decrease over the last 24 hours. The crypto market is currently facing a mass price downfall; the highly volatile market has shown unpredictable signs of late. Various analysts predict a further decline in a few cryptocurrencies’ values.
EOS surged by 15% on Wednesday
EOS, unlike its crypto counterparts, displayed a price rise on Wednesday. It is one of the top 50 tokens in terms of the market cap. EOS has shown significant signs of improvement and has gained investors’ faith. Livemint reports that a New York court denied a $27.5 settlement offer by Blockchain-technology developer Block.one. The reports indicate a possible security sale offering of the EOS coins several years ago. Livemint reports that the EOS community will likely terminate the business relations with Block.one. The crypto market could not boom in 2022’s first half due to Fed’s high inflation rates.