Srinagar, May 12 (ANH): Cryptocurrency prices witness bloodbath as Bitcoin falling to its lowest level since January 2021. The world’s largest and most popular cryptocurrency plunged more than 9% to $28,414. The global crypto market’s value today plummeted about 13% in the past 24 hours to $1.3 trillion, according to pricing from CoinGecko.
Bitcoin has at present slumped more than 50% lower compared to its all-time high of near $69,000, which it hit in November last year, and was trading near one-year lows at around $32,000 level.
Other digital tokens’ performance also declined as Solana, Polkadot, Cardano, Uniswap, XRP, Avalanche, Polygon, Stellar prices were trading with gains in the range of 10-30% over the last 24 hours, however, Terra crashed over 96% to $0.40, while Tron gained slighlty.
Crypto assets have been under pressure over the past month, mirroring a plunge in equities on fears of aggressive interest rate hikes across the globe to stave off decades-high inflation.
Meanwhile, crypto trading platform Coinbase has lost half its value in the past week, including its biggest one-day drop to date on Wednesday as the famously volatile crypto market weathers yet another slump.
