It’s another ugly day for markets everywhere. Stocks and cryptocrypto alike are crashing following news yesterday evening that President Donald Trump is limiting EU travel as the threat of the deadly coronavirus intensifies.
BitcoinBitcoin dropped to $6,000 per coin—losing $2,000 in value within 24 hours and hitting its lowest price since last May.
Total market cap for all cryptocurrencies fell to as low as $164 billion this morning—down from $224 billion the previous day. That’s a drop of more than one quarter—26.7 percent—within a matter of hours.
All in all, crypto has lost a staggering $100 billion in market capitalization in six days. More than a third of the market has been wiped out since Saturday,
For example, Bitcoin’s closest competitors, Ethereum and Ripple, are each down around 20 percent today. Ethereum is currently trading for around $141 per coin, while XRP is priced at a mere $0.16.
Today marked a bloodbath across the entire global financial system. The growing spread of coronavirus, plummeting oil prices, and fears of recession led to one of the biggest market sell-offs in recent history.
Both the US equities and crypto markets drop significantly. So what do the experts have to say about it?
The founder of crypto intelligence firm Messari Crypto, Ryan Selkis, published a dark take on Sunday night in a long Medium post titled “RIP Moon Times.” According to Selkis, “the coro...
Meanwhile, the stock market is also suffering, with the Dowhaving fallen by more than 2,000 points during the early morning. It’s worst one-day drop for the stock market since 1987, according to CNBC. Oil is once again down to $30 per barrel—a fall from $32 at yesterday’s close.
But while it all may seem grim, ShapeShift CEO and early Bitcoin adopter Erik Voorhees is offering hodlershodlers a bit of encouragement:
Bitcoin still up 50% YoY. Probably the only asset in the world.
Coinbase has now overtaken two of the world's largest securities exchanges in terms of transaction revenue, according to a crypto analyst from the private bank Coutts.
The crypto exchange generated $5.75 billion in transaction revenue over the past 12 months, compared to just $4.54 billion for the Nasdaq, where many of the world’s most valuable companies, including Apple, Google, and Microsoft, are traded.
Coinbase also surpassed the Stock Exchange of Hong Kong, the HKEX, which generated $2.67 b...
After several extended reviews since June this year, the Securities and Exchange Commission (SEC) has finally approved the first spot exchange-traded funds combining Bitcoin and Ethereum.
The agency has authorized Nasdaq to list the Hashdex Nasdaq Crypto Index US ETF and the Cboe BZX Exchange to list the Franklin Crypto Index ETF, according to a filing released Thursday.
"The proportion of bitcoin and ether to be held by each Trust will be based on free-float market capitalizations," the filing...
Dogecoin (DOGE) fell 12.4% in the past 24 hours as a broader market decline continues, triggered by the Federal Reserve's latest economic outlook.
The meme coin has dropped to $0.31, while trading volume surged 67% to $10.25 billion as holders repositioned their bags. It's now down 35% from its 2024 high of $0.47.
Despite the pullback, Dogecoin's market capitalization remains at $46.6 billion, maintaining its position as the seventh-largest crypto.
Powell's hawkish comments about higher-than-exp...