Cryptocurrency stocks were also falling amid a broader stock market rout, with technology shares bearing the brunt of the recent downtrend. The tech-heavy equity index Nasdaq has fallen 5% this week and was down 1% on Friday. The index fell through some key technical support levels, including the 200-day moving average, for the first time since April 2020, Craig Erlam, senior … [Read more...] about Crypto-Exposed Stocks Sink Amid Bitcoin’s Decline, Broader Market Rout
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Crypto Market Cap Falls Below $2T Amid Sell-Off
Cryptocurrencies are getting rekt.Crypto blue-chips bitcoin (BTC) and ether (ETH) breached key $40,000 and $3,000 support levels late Thursday evening, sending the broader alternative coin (altcoin) market into free fall.According to data from CoinGecko, the total market cap of the cryptocurrency industry fell 11% to $1.9 trillion as of Friday afternoon during U.S. trading … [Read more...] about Crypto Market Cap Falls Below $2T Amid Sell-Off
Market Wrap: Cryptocurrencies Tumble as Global Investors Reduce Risk
The crypto market was in a sea of red on Friday as bitcoin, the world's largest cryptocurrency by market capitalization, tumbled more than 10% over the past 24 hours.It appears that global investors have entered the year with a reduced appetite for risk, and so the correlations between speculative assets such as cryptocurrencies and equities have increased, which results in … [Read more...] about Market Wrap: Cryptocurrencies Tumble as Global Investors Reduce Risk
El Salvador Purchases 410 More Bitcoins Amid Market Drop, President Bukele Says
El Salvadaor bought 410 bitcoin for $15 million Friday, the country’s President Nayib Bukele said on Twitter.“Some guys are selling really cheap,” he added in his tweet. It is difficult to verify such claims on the public blockchain, since a buyer of a block of BTC that size would almost certainly have to buy it in smaller chunks to avoid slippage.Bitcoin was down about 12% … [Read more...] about El Salvador Purchases 410 More Bitcoins Amid Market Drop, President Bukele Says
JPMorgan Says Ethereum Is Losing NFT Market Share to Solana
Since August, Solana has been capturing the most NFT volume share at the expense of Ethereum, the bank said, noting that was when the NFT market started a major expansion. Ethereum has also been losing market cap share to Solana in line with the declining NFT volume share. Source link … [Read more...] about JPMorgan Says Ethereum Is Losing NFT Market Share to Solana