Cryptocurrency prices: Bitcoin falls 4%, Ethereum down 5.7% as global benchmarks tumble

By Asmita Pant  Aug 10, 2022, 12:51 PM IST (Published)

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Bitcoin — the world’s largest and most popular virtual currency — fell 3.9 percent to $22,948.9. Its market value stood at $437.2 billion. The trade volume was at $24.7 billion.

Major cryptocurrencies extended losses on Wednesday, after gaining for two straight sessions as the global crypto market cap dropped 3.93 percent to $1.08 trillion from the previous day. Bitcoin — the world’s largest and most popular virtual currency — fell 3.9 percent to $22,948.9. Its market value stood at $437.2 billion. The trade volume was at $24.7 billion.

Edul Patel, CEO and co-founder of Mudrex, said that the past few days had been mildly positive for the crypto market. “However, over the past 24 hours, we witnessed some selloff dragging BTC lower towards the $23,000 mark,” Patel said.

Ethererum or Ether — the second largest virtual currency — was 5.7 percent down at $1,678.9 with a market capitalisation of $204.2 billion. The trade volume of Ethereum was $17.2 in the last 24 hours.

Meme-based virtual currency Dogecoin was 3.8 percent down with a trading volume of $647.95 million. Shiba Inu was trading 3.6 percent lower at $0.000012 while Solana was 7.4 percent down at $39.6 billion.

The Indian financial market opened in green, before falling in red in choppy trade on Wednesday.

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