Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$103,922.00
0.42%$2,520.62
1.26%$2.40
1.11%$646.93
0.61%$171.46
1.61%$0.999833
-0.01%$0.223861
3.43%$0.762573
-1.35%$0.272817
1.46%$2,515.03
1.08%$103,868.00
0.34%$3.84
0.95%$3,033.64
1.12%$15.82
2.66%$23.24
1.81%$0.292192
0.69%$26.96
0.67%$0.00001474
3.34%$0.19517
0.59%$8.71
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1.07%$3.12
1.62%$98.98
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1.24%$0.999907
0.00%$2,522.44
1.35%$344.81
1.76%$2,693.47
1.33%$5.12
2.46%$1.00
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5.89%$0.757186
10.05%$1.001
-0.05%$104,137.00
0.62%$30.18
0.14%$430.06
2.18%$6.01
2.04%$227.89
0.25%$2.80
1.12%$5.24
2.46%$53.15
0.15%$206.31
1.70%$0.943469
1.98%$0.099355
0.65%$0.112133
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0.01%$0.384141
2.82%$4.83
1.31%$1.00
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0.38%$0.774953
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0.20%$2.69
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0.45%$0.01925338
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2.62%$0.66936
5.97%$0.802756
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4.87%$2,860.81
1.23%$1.79
5.64%$0.073126
4.03%$1.002
0.23%$103,646.00
0.12%$0.111286
3.49%$1.032
9.43%$2,689.08
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0.53%$221.41
1.51%$647.00
0.49%$1.00
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4.58%$190.01
1.50%$0.01966505
5.10%$0.01780141
2.73%$0.946816
0.47%$103,834.00
0.50%$0.65239
-0.31%$0.01294939
5.03%$0.808891
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0.81%$2,643.06
1.41%$1.00
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3.92%$0.31478
1.86%$3,221.74
0.12%$2.25
2.39%$4.06
2.26%$22.24
2.58%$12.89
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11.61%$36.17
1.34%$2,623.44
0.89%$0.118796
2.38%$0.01993528
6.62%$40.96
2.48%$0.415057
1.28%$0.62753
1.27%$4.00
-0.13%$0.997435
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3.66%$1.94
3.72%$0.998534
0.04%$0.336167
2.25%$1.76
2.59%$2.07
0.15%$1.11
1.26%$2.13
11.45%$111.09
0.00%$0.159225
2.52%$0.223316
3.20%$2,520.13
1.35%$2,518.31
1.31%$0.999801
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1.53%$0.660077
8.25%$0.639541
0.24%$103,848.00
0.49%$2,685.27
1.30%$0.440773
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1.63%$0.658266
5.07%$0.00883943
3.10%$0.998752
0.03%$0.158613
6.01%$7.51
3.50%$3.03
4.05%$103,630.00
0.14%$0.191681
4.13%$2,522.44
1.35%$0.052891
11.91%$0.999801
-0.01%$0.00513942
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0.99%$0.065239
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3.02%$101,723.00
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0.99%$0.464038
6.85%$0.18154
1.72%$0.098531
5.38%$0.416793
0.57%$0.446308
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5.50%$0.00000044
0.86%$0.665305
3.07%$2,520.88
1.50%$1.60
2.49%$0.04415826
2.92%$0.00804096
4.34%$1.74
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3.84%$0.157521
3.39%$0.00000106
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0.00%$0.998918
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15.07%$1.35
10.94%$44.63
2.49%$0.999945
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0.13%$103,342.00
0.71%$1.56
3.63%$0.239867
3.15%$3.20
3.22%$0.00450654
4.06%$1.003
0.94%$0.01951881
2.18%$0.388806
3.88%$33.95
-0.08%$2,673.74
1.30%$0.999953
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4.40%$0.383377
2.11%$0.00360235
14.95%$27.00
0.85%$0.356144
22.34%$0.03574534
0.46%$133.93
1.31%$0.846883
1.97%$0.771143
4.50%$2,769.53
1.22%$0.00006295
2.64%$0.00000168
0.33%$20.59
-0.05%$3.72
18.76%$1.099
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1.37%$103,776.00
0.41%$0.999075
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3.38%$0.287999
6.60%$19.19
3.42%$1.00
0.01%$0.702112
3.12%$2,519.23
1.30%$0.999893
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2.18%$23.06
0.41%$2,721.72
1.52%$2,518.79
1.29%$0.00337372
5.35%$26.97
0.83%$2.69
3.43%$0.0028885
9.76%$0.00070006
-1.05%$0.499296
2.99%$23.55
1.65%$0.680736
7.45%$0.575742
2.27%$0.00
6.78%$0.828067
5.57%Reading
Bitcoin, Ethereum, and the wider cryptocurrency market continued to slide today after taking a big hit Monday. In the last 24 hours alone, BitcoinBitcoin was down 6.4%, trading at $40,835.76, according to CoinGecko data.
While EthereumEthereum, the second largest digital asset by market cap, was valued at $2,763, down 8.6%. It’s the first time it has dipped below the $3,000 mark since August 6.
Big altcoinsaltcoins also took a beating. Solana, the sixth biggest cryptocurrency by market cap, was trading at $122.20, down 13% on the day and 35% from its all-time high of $189 it hit just two weeks ago. Cardano was worth $1.96 at the time of writing—a 6.6% 24 hour dip.
Virtually every other altcoin was in the red too. In fact, the entire crypto market is wobbling: over $1.2 billion-worth of crypto futures got liquidated in one day. “Futures” refers to a massive market where investors place bets on the future price of crypto. Positions are often automatically liquidated—especially when they are overleveraged—when the market takes a nosedive. This is because traders won’t be able to pay back what they have borrowed to take a position.
The crypto crash is partly related to concerns over a global financial fallout because of a huge Chinese company called Evergrande. The Shenzhen-based real estate giant has a lot of debt—$305 billion-worth.
Some are worried that China’s second biggest property developer won’t be able to pay back what it owes and this could lead to its collapse. Regulators have warned the country's financial system may be in trouble if Evergrande doesn’t find a solution. And the U.S. market could feel a potential Chinese economic mess because there are plenty of international asset managers and banks holding Evergrande’s dollar-denominated bonds.
The S&P 500, the Dow Jones Industrial Average, and global equity markets yesterday appeared to take a hit because of the uncertainty. Investors tend to flog riskier assets—this includes equities—when there is global economic uncertainty.
Bitcoin seems to be no exception.
Gary Gensler, chair of the U.S. Securities and Exchange Commission (SEC), today described cryptocurrencies as "an asset class that's highly speculative" and that in many cases, "there is not something standing behind it other than what somebody else will pay for it." Speaking during a livestreamed interview with The Washington Post, Gensler added that the value of cryptocurrencies "could go down dramatically, they could go up dramatically." Gensler added that it is important for cryptocurrency i...
But the biggest crypto by market cap had been struggling before yesterday: last week, the asset was struggling to make gains—despite El Salvador making it legal tender. The currency has not touched above the $50k mark since September 7.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
DeFi Development Corp, the AI-powered real estate platform building a digital assets treasury centered on Solana, announced Friday that it’s teaming with leading Solana meme coin Bonk (BONK) on a jointly backed Solana validator node—and its stock continued to blast off to new highs. The Nasdaq-listed firm (trading as DFDV) and meme coin team will collectively work to increase the delegated stake, or the amount of Solana tokens committed to its validator, sharing rewards in the process. “DFDV an...
Bitcoin’s market cap is shrinking relative to other popular cryptocurrencies as U.S. President Donald Trump continues to back away from his once-dizzying trade war. But that doesn’t mean “altcoin season” is around the corner, according to analysts. They say that a recent pivot to risk-on assets that has buoyed Ethereum and other altcoins may not last amid ongoing macroeconomic uncertainties, and that investors could favor the safer-haven digital asset if volatility arises again. “When markets a...
Coinbase’s stock jumped 9% on Friday following its addition to the S&P 500 and subsequent upgrade by analysts, and despite the crypto exchange’s admissions earlier this week that it had suffered a major data breach and remains under investigation by federal regulators. Benchmark Equity Research raised its target for Coinbase’s stock to $301 on Friday—a 19% increase from its previous prediction of $252, according to the firm's May 16 report. Coinbase shares closed at $266.32—a rebound from the pr...