In cryptocurrencies, the price of Bitcoin, the world's largest and most popular digital token, was trading more than a percentage below $17,040 today. The largest token is down three-quarters from its all-time high of $69,000. The global cryptocurrency market capitalization remained below the $1 trillion mark today, as it fell more than one percent in the past 24 hours to $893 billion, according to CoinGecko data.
On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, also fell more than 2% to $1,266. Meanwhile, the dogecoin price was trading over 2% lower today at $0.10, while Shiba Inu was up marginally 0.5% at $0.000009.
Today's performance of other cryptocurrency prices also declined as Binance USD, Avalanche, Tether, Terra, Solana, Polygon, ApeCoin, Stellar, XRP, Cardano, Uniswap, Polkadot, Chainlink prices all traded lower over the past few weeks. 24 hours while Litecoin, Tron gained .
A Reuters report suggested that a US agency that investigates allegations of deceptive conduct confirmed on Monday that it had open investigations into several cryptocurrency companies for "possible misconduct." FTX's spectacular implosion recently sent new shockwaves through the cryptocurrency industry, with bitcoin's value falling sharply this year. FTX filed for bankruptcy in November after a week in which a potential merger with rival crypto exchange Binance fell through.
When crypto exchange FTX was struggling to raise cash early last month, it seized billions of dollars in collateral from its trading arm, Alameda Research, and used it to try to convince investors of its financial health, former chief executive from FTX, Sam Bankman-Fried. said as quoted by WSJ.
Speculators who cling to the view that cryptocurrency's rout is almost over risk a rude awakening in 2023, according to Standard Chartered. A further Bitcoin drop of around 70% to $5,000 next year is among the "surprise" scenarios that markets may be "undervaluing," the bank's global head of research Eric Robertsen wrote in a note on Tuesday. Sunday.
(With contributions from agencies)
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