Bitcoin Below $22,000; Ether, Solana, Dogecoin Lose Up To 14%

Spread the love


Cryptocurrency Prices Today: Cryptocurrencies fell sharply on Friday, with sudden selling dragging bitcoin to a three-week low. Bitcoins slipped below the $23,000 mark amid the anticipation of further rate hikes. Manoj Dalmia, founder & director, Proassetz Exchange, said: “BTC is still trading above its support levels. After a weekly close above $24000, BTC managed to reach its resistance level of $25200. Currently, it has retraced to $23000 and is still trading in a range-bound zone between $22800 and $25000. A breakout with a volume above $25200 can lead to $29000. Overall, the trend is sideways and a breakout on either side can only justify a new trend.”

Even for Ethereum, the merge excitement got done and dusted. Experts see a range-bound movement in the days ahead. The global cryptocurrency market cap has taken a hit and is down by 2.76 per cent from Thursday’s levels. Data from CoinMarketCap, a cryptocurrency data aggregator, showed that the global cryptocurrency market cap stands at $ 1.09 trillion, lower than Thursday’s $1.12 trillion.

Even for Ethereum, the merge excitement got done and dusted. Experts see a range-bound movement in the days ahead. Shiba Inu plunged 12 per cent, whereas Avalanche and Dogecoin dropped up to 14 per cent each. Cardano and Polkadot declined 8 per cent each.

The European Central Bank (ECB) said it would harmonise how banks offer crypto assets to ensure they have enough capital and expertise in a sector some European Union lawmakers have described as the Wild West. Several crypto companies like Binance and Crypto.com have been authorised in EU countries such as Italy, France, Spain, Greece or Germany after complying with national safeguards to combat money laundering and terrorist financing.

The co-founder of the failed Terra cryptocurrency, which collapsed and wiped out about $40 billion of investors’ money in May, has admitted he was “wrong”, but said that he was not talking to South Korean investigators. The dramatic disintegration of stablecoin TerraUSD and its sister token Luna — which both dropped to nearly zero in value — hit the wider crypto market, sparking over $500 billion in losses.

Here are the top 10 cryptocurrencies and their prices on August 20, 2022 (data from coinmarketcap.com at the time of publishing this article)

Bitcoin $21,761.07 or 7.46 per cent loss in the last 24 hours

Ethereum $1,740.10 or 6.15 per cent loss in the last 24 hours

Cardano $1.00 or 0.00 per cent loss in the last 24 hours

Tether $1.00 or 0.02 per cent gain in the last 24 hours

XRP $0.3427 or 8.98 per cent gain in the last 24 hours

Solana $36.32 or 11.70 per cent loss in the last 24 hours

Dogecoin $0.06979 or 13.98 per cent loss in the last 24 hours

Read the Latest News and Breaking News here



Source link

Be the first to comment

Leave a Reply

Your email address will not be published.


*