Crypto market crash: Bitcoin decreases 4.8%, Ethereum tanks 6.7% in last 24 hours
The last 24 hours has been been very tough for the cryptocurrency investors as the major crypto coins such as Bitcoin, Ethereum, and Binance Coin suffered a huge loss.
New Delhi: Owing to its decentralised nature, the cryptocurrency market is so unpredictable. The last 24 hours have been been very tough for the cryptocurrency investors as the major crypto coins such as Bitcoin, Ethereum, and Binance Coin suffered a huge loss.
According to one of the largest cryptocurrency data aggregators coingecko, the global cryptocurrency market cap was recorded today at $1.13 Trillion with a downfall of 6.7% in the last 24 hours. Notably, the platform tracks 13,412 currencies at present.
The biggest cryptocurrency in the crypto market, Bitcoin registered a fall of 4.8% in the last 24 hours while Ethereum registered a fall of 6.7% in the past 24 hours.
The recent loss has affected the past performance of Bitcoin. In the last 14 days, the crypto currency suffered a loss of 4.6%. All-time low value of Bitcoin was recorded at $67.8140290 almost 9 years ago. The higest value of a Bitcoin was ever registered on November 10, 2021 at $69,044.77.
Ethereum is currently trading at $1456.01 with a loss of 6.7%. All-time high price of Bitcoin was recorded at $4,878.26 on Noember 10 while the lowest price of the ETH was recorded at $0.4328979 on October 20, 2015.
Despite the loss, Bitcoin still dominates the cryptocurrency market with 45.6%. Etherume is ranked at the second spot with 15.4% market share.
Other major crypto coins such as ADA, XRP, SOL, DOGE, DOT, SHIB, AVAX, DAI, LEO also tanked in the market.
At present, it is yet not known why all the cryptocurrencies lost its value suddenly. Market experts are also trying to find the reason behind it.