April 25 (Punjab Khabarnama) : Business Desk: There is chaos in the crypto market today. According to market cap, most of the top-10 cryptos are in the red zone and have fallen by 10 percent. Even among the cryptos which are green, the growth is marginal, almost flat. Talking about the largest crypto Bitcoin (BitCoin), its shine has faded by more than 4 percent but its dominance in the crypto market has increased. One Bitcoin is currently available at a price of $ 63,855.80 (Rs 53.20 lakh) with a decline of 4.10 percent (BitCoin Price). The shine of the second largest crypto Ethereum has faded by more than 5 percent. Talking about the entire crypto market, the global market cap has declined by 4.54% in the last 24 hours and it has come down to $2.35 lakh crore (Rs 195.80 lakh crore).
Crypto market collapsed on zero craze of BitCoin ETF
BlackRock’s Spot Bitcoin ETF first went live on January 11. For the first time since then, no investment came in on Wednesday. After 71 days of continuous investment, a sudden complete drought took the shine off Bitcoin. Due to this, a negative environment was created regarding other cryptos also.
Sharp decline in only one crypto of weekly top-10
Now if we talk weekly, there is a sharp decline in only one crypto of the top-10. Tonquin has fallen more than 16 percent in seven days. Apart from this, Tether, Dogecoin and USD coin have also weakened in a week but their decline is minor. On the other hand, in a week, BNB has increased by 11 percent, XRP by about 5 percent, Cardano by more than 3 percent, Ethereum and Bitcoin by more than one and a half percent each. There is a slight rise in USD coin.
Boom in crypto currency transactions
Crypto transactions have increased in the last 24 hours. According to the data available on CoinMarketCap, $ 8692 crore (Rs 7.24 lakh crore) crypto was transacted in a day, which was 18.70% more than the previous day. In the last 24 hours, BitCoin’s position in the crypto market has strengthened by 0.31 percent and it has 53.50 percent share in the crypto market.