Bitcoin has plunged to $42,000 as the crypto market continues to lose value

Sep 22, 2021

By: BI India Bureau

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

Credit: Business Insider India

Bitcoin continues to nosedive

The cryptocurrency hit $40,000 overnight and is now slowly recovering, coming back up to $42,000

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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

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Ether was testing the $4,000 threshold just last week

Now, it’s down by nearly 16 percent in seven days

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The only cryptocurrency to buck the trend seems to be Avalanche

It’s another contender for Ethereum’s dominance in the market

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Avalanche recently completed a private sale of its AVAX tokens

The sale was worth $230 million

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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

Credit: Business Insider India

Avalanche could push Dogecoin out of the top 10

But there’s a $13 billion gap between their market caps

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The value of Doge has taken a marginal hit

Elon Musk’s favorite cryptocurrency is worth $0.203, down by 1.71 percent

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Cardano is currently at $2.05

The third biggest cryptocurrency out there has dipped by 1.7 percent since yesterday

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But, the bulls are hoping that it won’t go below $2

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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

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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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