Friday

March 1st , 2024

FOLLOW US
pc

Faiz Khairi

A year ago

BITCOIN, DOGECOIN, AND ETHEREUM WEAKENED

featured img

The crypto asset market is moving mixed this morning, Tuesday (21/6/2022). Launching Coinmarketcap this morning 5 of the 10 largest market cap crypto assets moved in the green in the last 24 hours.

The value of the brightest cryptocurrency is Polkadot or DOT which jumped 3.12 percent at the level of 7.6 US dollars which is equivalent to Rp. 112,753 per coin. Then, Cardano or ADA also rose 0.7 percent at the level of 0.48 US dollars, and the Binance Exchange (BNB) strengthened 0.13 percent to 213.57 US dollars.

However, several crypto assets also experienced weakness, such as DOGE or Dogecoin which fell 3.19 percent at the level of 0.05 US dollars. Then, Ethereum (ETH) which fell 2.6 percent to 1,100 US dollars, and XRP at 0.31 US dollars, down 2.3 percent.

The decline was also continued by the largest crypto asset by market capitalization, Bitcoin (BTC) which fell 0.08 percent or 20,354 US dollars. Then, Solana (SOL) which weakened by 0.18 percent to 34.3 US dollars. The crypto market is currently experiencing a 0.3 percent decrease in market capitalization to $896.07 billion in the last 24 hours.

The volume of crypto assets also fell 10.58 percent to US$73.31 billion, and stablecoins were at US$63.8 billion, or 87.05 percent of the overall crypto volume. This morning Tether (USDT) was up 0.01 percent at 0.9 US dollars, while USD Coin (USDC) was down 0.04 percent to 1 US dollar. For information, USDT and USDC are crypto currencies of the stable coin class or types of cryptocurrencies created to offer stable prices against the US dollar. Quoting Coindesk, bitcoin managed to rise after experiencing a slump and fell at the level of 17,000 US dollars per coin.

Now bitcoin is trading in the range above 20,100 US dollars in the last 24 hours. Meanwhile, most of the other major cryptocurrencies are in the green. Some of the sentiments that drive crypto movement, one of which is the increase in US interest rates by 75 basis points which is the largest in 28 years. In addition, the employee reductions carried out by Coinbase (COIN), BlockFi, and Crypto.com have also become a negative sentiment in the crypto market. “Coinbase laid off about 1,100 employees or about 18 percent because the company was growing too fast,” said Coinbase CEO Brian Armstrong. However, Binance, Kraken, and Polygon are also speeding up hiring in response to layoffs across the crypto industry.

Meet the Author


PC
Faiz Khairi

Content writer

follow me

INTERSTING TOPICS


Connect and interact with amazing Authors in our twitter community