Daily Times

The cryptocurrency market faced one of the worst bloodbaths on Thursday, with market capitalisation shedding 14.8 percent to reach $1.26 trillion. As of 1250 hours GMT, the largest cryptocurrency Bitcoin’s (BTC) price dipped 7.2 percent to $28,374. With this decrease in price, the market capitalisation of the biggest crypto has reached $540 billion. Bitcoin has shed 28.4 percent of its value over the last week. Bitcoin fell below $26,000 for the first time in 16 months during the intra-day trading. That marks the first time Bitcoin has sunk below the $27,000 level since December 26, 2020. Ether (ETH), the world’s second-largest cryptocurrency by market capitalisation, faced a worst decline of 15.9 percent to $1,955. With this fall in price, the market capitalisation of ETH has reached $235 billion. ETH has been 33.5 percent down in the past seven days. It’s the first time the token has fallen beneath the $2,000 mark since July 2021.

Binance Coin (BB) price dipped 7.5 percent to $275.51. With this decrease in price, the market capitalisation of BB has reached $46.3 billion. BB has shed 31.6 percent of its value during the last seven days. Similarly, XRP price went down by 22.3 percent to reach $0.376. The market capitalisation of XRP stands at $18.2 billion with this decrease. XRP has shed 41.9 percent of its value during the last seven days. Similarly, Cardano (ADA) price plunged 23.6 percent to reach $0.457. Its market capitalisation has reached $15.5 billion with this decrease. ADA has shed 48.9 percent of its value in the past seven days. Same was the case with Solana (SOL) whose price plummeted 22 percent to $44.01. With this massive decrease in price, the market capitalisation of SOL has reached $14.7 billion. SOL has shed 52.6 percent during the last seven days.