Cryptocurrency markets crash further, Bitcoin below $30,000

In the last 24 hours, the cryptocurrency markets have continued to crash.Data from CoinMarketCap shows that the Bitcoin market cap has decreased by a staggering 9.83 per cent in the last 24 hours, standing at $1.40 trillion as of 7:50 AM IST.

Following a breach of support levels, Bitcoin is down by 8.54 percent and is currently trading at $31,008, less than half the amount it traded at at its all-time high of $69,000. The cryptocurrency fell below $30,000 during early hours of Tuesday but has now recovered.  

Also, Ethereum is at $ 2,317 after sliding down 7.06 percent and showing major downtrend.Within the last 24 hours, USDT Tether and USDC both showed a 0.02 percent uptrend.

It is noteworthy to mention that both these tokens are stablecoins.

The BNB token has also witnessed huge downtrend. The token fell 12.78 per cent.

Solana’s SOL token also fell greatly. The token was down by 14.77 per cent.

XRP Ripple is also down by 11.88 per cent in the last 24 hours. 

The ADA token showed 14.17 per cent downtrend.

Binance USD have become the ninth most treasured token amid the crash. it’s miles up 0.08 percentage in the closing 24 hours.

Terra USD additionally had an astronomical drop after its depeg from america dollar. The token is down 21.forty percent.

normal, the important top tokens slid substantially down from their positions within the last 24 hours and many cryptocurrency tokens also crashed under aid tiers.

In different information, the UST stablecoin turned into depegged from the USD inflicting a main drop in its cost. The Luna foundation defend has announced that they might issue $1.5 billion in loans to help stabilise the UST stablecoin.

El Salvador’s President Nayib Bukele took advantage of the current dip in cryptocurrency markets to announce that the country has purchased an additional 500 Bitcoin for $15,372,000.

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