Cryptocurrencies continue to float in a sea of red

Dec 10, 2021 By: BI India Bureau

The crypto market is bathing in red again

According to analysts, this is another sell-off wave Credit: Canva

The global crypto market value has dipped to $2.27 trillion

But trading volumes have increased by 2.1 percent Credit: Canva

This means while crypto trading is holding strong

Most of the players are selling Credit: Canva

Bitcoin tumbled to below $50,000, yet again

It’s currently trading at $48,527 after falling 2.34 percent in the last 24 hours Credit: Canva

Ethereum took an even bigger hit of 4.79 percent

It's currently trading at $4,161 Credit: Canva

Binance Coin fell by 3.82 percent since yesterday

The BNB token is currently priced at $580.67 Credit: Canva

Solana has dropped by over 5 percent

The SOL token is currently trading at $180.25 Credit: Canva

Solana’s counterpart, Cardano, saw a dip of nearly 5 percent as well

It’s currently trading at $1.31 Credit: Canva

Meanwhile, Polkadot has dropped to $27.45

Bitcoin's value is dependent on its supply and the demand for it. Beyond that, the cryptocurrency's availability and rewards for mining also has an impact. Credit: Canva

Terra’s LUNA token took a double digit hit

The cryptocurrency is down by 10 percent, priced at $68.49 Credit: Canva

Dogecoin is down by 3.22 percent

It’s currently trading at $0.1719 Credit: Canva

Disclaimer

These are the top cryptocurrencies by volume according to CoinMarketCap | Prices updated as of December 10, 10:30 am IST and may change over the course of the day Credit: Canva