New Delhi: Crypto market is very volatile and we all are aware of that, here you can see large swings with no notice and that’s why people find it very risky as you can witness a sudden fall.
An upward trend can do wonders but a downswing can leave you with less money than you invested in and you might even not be able to access your investment portfolio on the crypto exchange if it goes down heavily.
The crypto world has already suffered a lot of blows and it is difficult to mark a common problem that can state that why markets are crashing down these days.
Which coins prices are down?
A massive dump cryptocurrency market has sunk the values of popular coins including Bitcoin, Ether, DOGE, and SHIB. The whole market was painted red which have created a panic in investors’ minds.
The price of Bitcoin dropped roughly 11% while Ethereum and Dogecoin were down roughly 12% and 18%, respectively. This outage also dropped the shares of the blockchain-related firm
Why the crypto market is down?
The massive fall has been linked with El Salvador’s implementation of crypto law which will see Bitcoin accepted as legal tender.
El Salvador bought 400 bitcoins worth around $20 million ahead of the launch which helped the BTC to go above $52,000 for the first time since May.
Some analysts have said that it is a rebound that lifted Bitcoin almost 75% since late July. The overall crypto market saw a fall of $300 billion in the past 24 hours
| S. NO. | NAME | PRICE | 24H % | 7D % | MARKET CAP | VOLUME(24H) | CIRCULATING SUPPLY |
| 1 | Bitcoin BTC | $47,222.02 | -10.19% | 0.82% | $886,257,451,228 | $65,474,674,068 1,389,618 BTC | 18,809,700 BTC |
| 2 | Ethereum ETH | $3,522.13 | -10.42% | 2.79% | $412,973,728,545 | $40,331,746,412 11,468,653 ETH | 117,432,365 ETH |
| 3 | Cardano ADA | $2.53 | -10.63% | 7.91% | $80,354,761,666 | $11,953,260,212 4,764,046,512 ADA | 32,025,892,121 ADA |
| 4 | Binance Coin BNB | $422.92 | -15.82% | -7.99% | $70,521,877,502 | $4,568,694,304 10,892,602 BNB | 168,137,036 BNB |
| 5 | Tether USDT | $1.00 | 0.03% | 0.02% | $68,655,328,029 | $166,319,985,639 166,247,430,349 USDT | 68,625,377,886 USDT |
| 6 | XRP XRP | $1.14 | -16.89% | -3.25% | $53,079,837,117 | $11,554,124,848 10,131,078,336 XRP | 46,542,338,341 XRP |
| 7 | Solana SOL | $179.25 | 4.80% | 60.88% | $52,492,579,416 | $17,241,049,053 96,182,680 SOL | 292,840,475 SOL |
| 8 | Dogecoin DOGE | $0.26 | -14.58% | -4.97% | $34,322,240,926 | $5,841,566,771 22,327,100,132 DOGE | 131,183,317,764 DOGE |
| 9 | USD Coin USDC | $1.00 | 0.03% | 0.00% | $28,161,474,509 | $6,116,995,543 6,116,865,408 USDC | 28,160,875,394 USDC |
| 10 | Polkadot DOT | $28.45 | -16.15% | -8.18% | $28,092,851,650 | $5,608,532,205 197,162,982 DOT | 987,579,315 DOT |