Daily Times

The prices of major cryptocurrencies plunged on Saturday, with the capitalisation of the crypto market decreasing by 6.01 percent to reach $1.28 trillion as of 14:00 GMT.

The price of Bitcoin (BTC), the largest cryptocurrency, slipped to $30,739 after shedding 6.97 percent. With this decrease in price, the market capitalisation of the BTC has reached $576 billion.

Likewise, ethereum (ETH) price shed 6.45 percent to reach $1,736. With this decrease in price, the market capitalisation of ETH has reached $202 billion.

Similarly, XRP shed 7.45 percent to reach $0.593. The market capitalisation of XRP stands at $59.3 billion after this decrease.

On the other hand, Cardano (ADA) price reached $1.22 with a 7.14 percent gain in its price. Its market capitalisation has reached $39.1 billion with this decrease.

Similarly, Dogecoin (Doge) shed 8.35 percent to reach $0.236. With this decrease in price, the market capitalisation of Doge reached $30.6 billion.

On Friday, reports emerged of the disappearance of billions of dollars worth of Bitcoin from Africrypt, a South African-based cryptocurrency-based investment firm. A law firm representing the company’s investors said about 69,000 ($3.6bn) of Bitcoin had gone missing, alongside Ameer and Raees Cajee, the founders of the company.

Hanekom Attorneys said the brothers running the company had written to clients on April 13, saying that their systems had been hacked, and that client accounts and client wallets had been “compromised”. The letter also said Africrypt had halted operations. Cape Town-based law firm Hanekom Attorneys said the brothers had vanished. It has been employed by investors and has reported the case to the police.