Cryptocurrency: The recession continues in the cryptocurrency market, the market cap reached below one trillion dollars

Posted on 12th Jul 2022 by rohit kumar

The downtrend in the cryptocurrency market continues. The world's largest cryptocurrency is currently trading above $20,000, but in the last 24 hours, it has been seen trading below this psychological level ($19925).

 

 

The market cap of the cryptocurrency market has come down to below $1 trillion. Let us tell you that in November last year, bitcoin had reached the level of $ 69900. But, since then it has been witnessing a steady decline. Its prices have fallen by about 56 percent since November.

 

 

Ethereum, the second-largest cryptocurrency, has seen a steady decline in price since July 8. According to experts, if its prices fell below $ 1140, then it could fall to the range of $ 900.

 

Cryptocurrencies such as dogecoin, shiba inu, xrp, solana, bnb, litecoin, chainlink, Polkadot, avalanche, tether, and uniswap have also declined in the last 24 hours. Dogecoin has registered a decline of 6 percent and Shiba Inu by 5 percent.

 

At the same time, Polygon Matic has seen a bullish trend during the last 24 hours, it is trading at $ 0.58.

 

Also Read: Cryptocurrency: The effect of the decline in the crypto market was visible, large scale layoffs started in these companies

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