Cryptocurrency markets slumped on Friday after rallying in anticipation of US President Joe Biden's executive order on crypto and Dubai regulations. The rally, which is now over, is reflected by the top tiles which are all red.
The global market capitalization has shrunk by a significant 4.53% in the last 24 hours and stands at $1.72 trillion as of 9:30 a.m. IST, CoinMarketCap data showed.
Bitcoin is down 6.03 percent and is trading at $38,407. Ethereum is down 4.95 percent and is trading at $2,535.
The USDT Tether stablecoin has a 0.0 percent change from its value 24 hours ago.
The BNB token also crashed with all top tokens in the red and is currently down 5.32 percent. The USDC stablecoin was down 0.05 percent.
Terra LUNA has dropped 0.41%. XRP Ripple showed a downward move and is now down 2.76 percent.
The ADA token has sunk 5.08% despite being down more than 4% for the third day in a row. It is speculated that this happened because the credentials of Cardano blockchain co-founder Charles Hoskinson were proven to be fake.
Solana and Avalanche are down 4.82% and 1.14% respectively.
Qatar 2022 Token was the biggest gainer in the last 24 hours. It increased more than 1,962 percent.
Base Protocol also showed an astronomical increase of more than 1,930 percent. CyborgShiba, You Coin and Penta are up more than 300 percent.
Spook Inu, Big Mouth Monster, Belon DAO, SuperPlayer World, and Pudgy Pups Club sank by more than 90 percent.
