News
Cryptocurrency Market Cap Crashes as Bitcoin Falls to $60,000
Cryptocurrency Market Cap Crashes as Bitcoin Falls to $60,000
Bitcoin’s market price fell to $60,300 on Wednesday amid heavy retail selling by major names in the cryptocurrency markets. Due to the sell-off, the global cryptocurrency market capitalization fell 3.48% on the day to $2.23 trillion, while trading volume surged to $67.31 billion.
At the time of writing, the total DeFi traded volume reached $4.62 billion, accounting for 6.86% of the total cryptocurrency market volume in 24 hours. In addition, the stable coin volume, which reached $62.72 billion, accounted for 93.18% of the total cryptocurrency market volume in 24 hours.
Most major digital assets were mixed on Tuesday, with bitcoin (BTC-USD) falling below $62,000. The CoinDesk Market Index, which tracks 192 digital assets, is down 1.9% over the past 24 hours.
At the same time, the NASDAQ rose 0.8%, the S&P 500 rose 0.5%, and the Dow Jones Industrial Average advanced 0.4%. Bitcoin (BTC-USD), the largest cryptocurrency by market value, fell to $61,833 in late evening trading, while trading volume fell 24% to $20.66 billion.
Ethereum (ETH-USD), the second largest digital asset, has fallen to $3,414. The bearish play in the cryptocurrency market on Wednesday dragged the Ethereum asset to $3,300, losing about 3.5% in the last 24 hours.
BNB (BNB-USD), the third-largest digital asset by market value excluding stablecoins, fell 0.7%, while Solana (SOL-USD), the fourth-largest, rose 3.8%. XRP (XRP-USD) rose 1.2%, Cardano (ADA-USD) gained 3.3%, and Toncoin (TON-USD) rose 4.6%, while Dogecoin (DOGE-USD) lost 0.6%.
Bitcoin had bounced to $63,000 before falling again. The orange token has finished a solid first half, up 42% since its first deal in January. In early January, the U.S. Securities and Exchange Commission approved the 11 investment vehicles that hold genuine Bitcoin. #Crypto Market Cap Sinks as Bitcoin Falls to $60,000
NEM Insurance Shareholders Approve N3.01 Billion Dividend For 2023 Financial Year