Cryptocurrency markets bleed red in the last 24 hours. The global market cap is down by 2.51 per cent in the last 24 hours and is at $1.54 trillion as of 8:00 AM IST, CoinMarketCap data showed.
Bitcoin is down by a whopping 2.90 per cent after breaking support levels and is trading at $33,583.
Ethereum also showed major downtrend and is at $2,461 after sliding down 2.90 per cent.
The USDT Tether showed no change in its value in the last 24 hours whereas the USDC stablecoins showed 0.01 per cent downtrend.
The BNB token has gone down by 2.33 per cent. Solana fell by 2.78 per cent. XRP Ripple is also down by 1.66 per cent in the last 24 hours. The ADA token showed 1.15 per cent downtrend. Terra LUNA is down by 4.40 per cent in the last 24 hours. Terra USD is 0.36 per cent in green.
Overall, the major top tokens slid drastically down from their positions over the weekend and many crypto tokens also crashed below support levels.
In other news, Instagram will soon support Ethereum, Solana and Polygon blockchain NFTs on its platform.
Moreover, Finance Minister Nirmala Sitharaman said recently that anonymity in blockchain technology is an “inherent risk” and has called for taking precaution.
Also Read: What is Bitcoin mining? How does it work? – BusinessToday
Also Read: OpenSea Discord hacked; Hackers promote scam NFTs – BusinessToday