Bitcoin has plunged to $42,000 as the crypto market continues to lose value
Sep 22, 2021
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The crypto market is continuing to shrink in volume and size
The market cap is down by nearly 3 percent at $1.81 trillion and volumes have fallen by 11.33 percent
Bitcoin continues to nosedive
The cryptocurrency hit $40,000 overnight and is now slowly recovering, coming back up to $42,000
Ether could not hold onto its $3,000 mark
The cryptocurrency is currently trading at $2,872 having lost 4.25 percent of its value in the last 24 hours
Ether was testing the $4,000 threshold just last week
Now, it’s down by nearly 16 percent in seven days
The only cryptocurrency to buck the trend seems to be Avalanche
It’s another contender for Ethereum’s dominance in the market
Avalanche recently completed a private sale of its AVAX tokens
The sale was worth $230 million
Avalanche is currently the 11th biggest by market cap
Priced at $62.11, its value has increased by over 10 percent in the last 24 hours
Avalanche could push Dogecoin out of the top 10
But there’s a $13 billion gap between their market caps
The value of Doge has taken a marginal hit
Elon Musk’s favorite cryptocurrency is worth $0.203, down by 1.71 percent
Cardano is currently at $2.05
The third biggest cryptocurrency out there has dipped by 1.7 percent since yesterday
Cardano has lost nearly 15% of its value since last week
But, the bulls are hoping that it won’t go below $2
Binance Coin is worth $354.09
It has lost 2.39 percent of its value in the last 24 hours
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XRP continues to dip as well
The cryptocurrency is worth less than $1 at $0.92, a drop of 2.19 percent since yesterday
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Solana is at $128
Down by around 5 percent, the same as bitcoin and Ether
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Polkadot is at $27.19
It is also down by nearly 5 percent in the last 24 hours
Disclaimer
These are top cryptocurrencies by volume according to CoinMarketCap | Prices updated as of September 22, 10 am IST and may change over the course of the day
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