Today’s Crypto Values Plummet While Bitcoin, Ether, And Uniswap Rise
Even though Bitcoin stayed above $20,000, the price of cryptocurrencies fell today. The largest and most popular cryptocurrency in the world was trading at $20,049, which was more than 1% less than the day before.
According to CoinGecko, the market capitalization of all cryptocurrencies was $998 billion today, which is less than $1 trillion. This is down nearly 2% in the last 24 hours.
Ether, which is tied to the blockchain of ethereum and is the second largest cryptocurrency, fell more than 1% to $1,358. Shiba Inu fell about 3% to $0.000011, while the price of dogecoin fell by 2% to $0.06.
“Over the past 24 hours, Bitcoin prices have stayed in a tight range. Even though BTC is trading above $20,000, it is still having trouble breaking above its psychological threshold level. On September 10th, BTC had 39% of the market, but now it has 41%. It shows that people on the market are choosing BTC over other cryptocurrencies. Ethereum was being traded for more than $1,350, and bulls were trying to push the price up to $1,400. The prices of BTC and ETH are going down because investors are becoming more cautious about the economy as a whole “Mudrex’s CEO and co-founder, Edul Patel, put it this way.
Other cryptocurrency prices have had a mixed day. Avalanche, Binance USD, Polkadot, Cardano, Chainlink, Tether, ApeCoin, Solana, Litecoin, XRP, Stellar, Terra, Polygon, and Stellar all had small price drops in the last 24 hours, while Tron and Uniswap went up.
In the past few months, global markets have gone down because central banks around the world have raised interest rates to stop inflation from going up too fast. As fears of a recession grow, risky assets like cryptocurrencies have been hit hard.
Bloomberg reported that about $100 million worth of Binance Coin was stolen in what seems to be the latest hack to hit digital assets. This made an already bad year for cryptocurrencies even worse. An attack happened on a bridge between two blockchains, but the problem is now “contained,” Changpeng “CZ “Zhao, one of the people who started Binance, wrote on Twitter on Friday. Bloomberg says that about $2 billion has been stolen through crypto hacks this year.
