Cryptocurrencies bomb as El Salvador opens its doors to Bitcoin

Sep 8, 2021 By: BI India Bureau

As El Salvador rolled out the red carpet for Bitcoin

The cryptocurrency market started to crash Credit: Canva

Bitcoin’s price has dipped by over 11 percent in the last 24 hours

The cryptocurrency is currently priced at USD 46,738.06 Credit: Canva

Ethereum and Cardano are also down by over 11 percent

Ether is trading at USD 3,460 and Cardano’s price is USD 2.49 Credit: Canva

Binance Coin has fallen by an even larger margin

The cryptocurrency is at USD 417.48 — a drop of 15 percent since yesterday Credit: Canva

Ripple’s XRP is in the red by 18 percent

Its current price is USD 1.12 Credit: Canva

Similarly, Polkadot is down by over 18 percent as well

Its current price is USD 28.53 Credit: Canva

Dogecoin has not been spared either

Its price is currently at USD 0.2592 — down by over 15 percent in last 24 hours Credit: Canva

Solana is the only cryptocurrency in the top 10 that seems to be ducking the trend

Its value has only dipped by 2.4 percent so far Credit: Canva

On a week-by-week basis, Solana is still up by 54 percent

Disclaimer

These are top cryptocurrencies by volume according to CoinMarketCap | Prices updated as of 11am IST and may change over the course of the day Credit: Canva