Crypto Price Today: Profit-booking in the crypto market, Cardano and Shiba Inu break five percent

Posted on 28th Oct 2022 by rohit kumar

After a strong rally in the past few days, the cryptocurrency market saw profit booking on Friday. Due to this major crypto tokens were seen to be slipping. Although bitcoin managed to maintain the $20,000 level. At the same time, Ethereum is also staying above the $1,500 level. The US economy grew 2.6% in the third quarter, which is higher than the expected growth of 2%. This positive news also had a positive effect on the crypto market.

 

On the other hand, except Uniswap and US dollar-linked Tether, all other top crypto tokens traded with weakness. Cardano and Shiba Inu fell five percent each, followed by Ethereum and Polygon at three percent each.

 

The global cryptocurrency market cap dipped below the $1 trillion mark to $980.18 billion after a fall of more than two percent in the past 24 hours. The total trading volume in the cryptocurrency market during this period fell by 13% to $89.23 billion.

 

Also Read: Crypto Ban: Singapore said – a ban on cryptocurrencies is not practical, proposes to reduce risk

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