Bitcoin Below $22,000; Ether, Solana, Dogecoin lose up to 14%
Cryptocurrency Prices Today: Cryptocurrencies fell sharply on Friday, with sudden selling pulling bitcoin to a three-week low. Bitcoins fell below the $23,000 mark amid anticipation of further interest rate hikes. Manoj Dalmia, Founder and Director, Proassetz Exchange, said: “BTC is still trading above its support levels. After a weekly close above $24000, BTC managed to reach its resistance level of $25200. Currently, it has bounced back to $23000 and is still trading in a range between $22,800 and $25,000. A breakout with volume above $25,200 could lead to $29,000. Overall, the trend is sideways and a breakout on either side can only justify a new trend.”
Even for Ethereum, the merger hype was done and dusted. Experts see a range-bound movement in the days ahead. The global cryptocurrency market capitalization has taken a hit and is down 2.76 percent from Thursday’s levels. Data from CoinMarketCap, a cryptocurrency data aggregator, showed the global cryptocurrency market cap at $1.09 trillion, down from Thursday’s $1.12 trillion.
Even for Ethereum, the merger hype was done and dusted. Experts see a range-bound movement in the days ahead. Shiba Inu plunged 12 percent, while Avalanche and Dogecoin fell up to 14 percent each. Cardano and Polkadot each fell 8 percent.
The European Central Bank (ECB) said it would harmonize how banks offer crypto assets to ensure they have enough capital and expertise in a sector some EU lawmakers have described as the Wild West. Several crypto companies such as Binance and Crypto.com have been authorized in EU countries such as Italy, France, Spain, Greece or Germany after complying with national security measures to combat money laundering and terrorist financing.
The co-founder of the failed Terra cryptocurrency, which collapsed and wiped out about $40 billion of investors’ money in May, has admitted he was wrong but said he did not speak to South Korean investigators. The dramatic dissolution of stablecoin TerraUSD and its sister token Luna – both of which fell to almost zero in value – hit the broader crypto market, causing over $500 billion in losses.
Here are the top 10 cryptocurrencies and their prices as of August 20, 2022 (data from coinmarketcap.com at the time of publishing this article)
Bitcoin $21,761.07 or 7.46 percent loss in last 24 hours
Ethereum $1,740.10 or 6.15 percent loss in last 24 hours
Cardano $1.00 or 0.00 percent loss in last 24 hours
Tether $1.00 or 0.02 percent gain in last 24 hours
XRP $0.3427 or 8.98 percent gain in the last 24 hours
Solana $36.32 or 11.70 percent loss in the last 24 hours
Dogecoin $0.06979 or 13.98 percent loss in last 24 hours
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