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

Posted on 12th Jul 2022 02:01 pm 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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