The cryptocurrency market experienced a major drop on Wednesday morning as a result of the China Banking Association’s warnings about possible risks in digital wallets. Bitcoin, the most common digital currency, lost $70 billion in the crypto-market in just 24 hours. After leaving investors worried about cyberattacks from the dark web, all of the trending cryptocurrencies went through a bloodbath.
This weekend’s most interesting cryptocurrencies
Bitcoin is currently trading at US$39,715.05, with a market capitalization of US$743.22 billion and a 24-hour volume of US$150.50 billion. Also, after the market’s abrupt drop, Bitcoin values are bouncing back to usual. This digital currency makes use of peer-to-peer technologies to handle vast amounts of money without the need for a bank’s permission.
Over the past 24 hours, Ethereum has traded at US$2,578.29, with a market cap of US$299.42 billion and a value of US$127.96 billion. Ethereum is a well-known digital currency that is driven by a community-run technology. It’s a haven for digital currencies, international transfers, and a variety of apps for making a lot of money online.
Over the past 24 hours, Dogecoin has traded for US$0.353571, with a market cap of US$50.71 billion and a value of US$8.99 billion. Although this digital currency was created as a joke, it has experienced tremendous growth as a result of Elon Musk’s viral tweet. It gained popularity due to its practical performance, as it has an unrestricted supply and a low price on the global market, allowing it to inflate indefinitely.
Over the past 24 hours, Litecoin has traded for US$212.97, with a market cap of US$13.74 billion and a value of US$15.19 billion. It has put in a considerable effort in recouping almost half of the losses suffered in the Wednesday collision. It is the thirteenth-largest digital currency, and its recovery approach to the upper trend-line has been demonstrated. It’s predicted to hit $220, showing that there’s a lot of interest at this point.
Ripple is reportedly trading at US$1.15, with a market capitalization of US$114.94 billion and a 24-hour turnover of US$18.92 billion. The fast recovery has shown that it is, in fact, an open developer portal that allows business leaders to send and receive payments in any currency or network without difficulty.
Cardano is reportedly trading at $1.58, with a market capitalization of $50.75 billion and a 24-hour turnover of $15.89 billion. Cardano’s key goal is to include innovative means of transacting, communicating, and regulating the global payments system. It is based on the Ouroboros consensus algorithm, which is a specially built proof-of-stake blockchain protocol.