Crypto Price Today: Bitcoin Below $17,000; XRP, Shiba Inu and Dogecoin drop by up to 3%

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New Delhi: Crypto markets traded flat in the early hours of Monday.

Crypto analysts have warned that monetary tightening pressure from the Federal Reserve is unlikely to fade anytime soon to tame inflationary pressure.

Over the weekend, Bitcoin traded between $17,000 and $16,500. Ethereum slipped below the $1,200 mark.

With the exception of BNB and USD-pegged Tether, all other major crypto tokens were in the red on Monday. XRP plunged around 3%, while BNB gained 3%. Dogecoin, Shiba Inu and Tron were the other big losers.

The global cryptocurrency market capitalization was trading lower, holding $800 billion, after slipping slightly in the past 24 hours. Total trading volume fell by around 16% to $22.26 billion.

Global Updates

Now that Sam Bankman-Frieds has fallen out of favor, unease is growing around rival Changpeng Zhaos Binance’s dominance in the cryptocurrency market. Mazars, the audit firm working with Binance and other crypto exchanges on proof-of-reserve statements, has suspended all work for crypto clients, Binance said in an emailed statement reported by various media. . Bitcoin fell below $17,000 and several altcoins saw significantly steeper declines as concerns mount that the digital asset market’s woes are far from over.

Former US President Donald Trump’s non-fungible token (NFT) digital trading card collection is sold out. According to data from OpenSea, the collection trading volume is 900 ETH, or about $1.08 million.

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