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

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The global crypto market value has dipped to $2.27 trillion

But trading volumes have increased by 2.1 percent

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This means while crypto trading is holding strong

Most of the players are selling

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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

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Ethereum took an even bigger hit of 4.79 percent

It's currently trading at $4,161

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Binance Coin fell by 3.82 percent since yesterday

The BNB token is currently priced at $580.67

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Solana has dropped by over 5 percent

The SOL token is currently trading at $180.25

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

It’s currently trading at $1.31

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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.

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Terra’s LUNA token took a double digit hit

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

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Dogecoin is down by 3.22 percent

It’s currently trading at $0.1719

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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

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