Bitcoin below $ 48,000, ether, dogecoin drop. Latest prices here

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In cryptocurrencies, Bitcoin prices plunged today as the world’s largest cryptocurrency by market cap traded at 47,252.7, down more than 3%. The most popular virtual token broke above the $ 50,000 level earlier this week for the first time since mid-May. Bitcoin is up 63% this year (year to date), however, a far cry from its all-time high of just below $ 65,000 in April.

According to CoinDesk, Ether, the coin linked to the ethereum blockchain and the second largest crypto, plunged to $ 3,129.7, trading with cuts of nearly 3%. Dogecoin, on the other hand, fell 6% to $ 0.27. Other digital coins like Stellar, Uniswap, XRP, Litecoin, Cardano also fell in the last 24 hours.

Meanwhile, cryptocurrency funds saw their first influx in seven weeks as investors poured money into altcoins such as Ether, Cardano and Solana last week, according to a report from the CoinShares digital asset manager.

Digital asset funds posted net inflows of $ 21 million last week. However, in the six-week period, the longest streak of losses since January 2018, digital asset investment products saw a total payback of $ 115 million.

However, bitcoin experienced its seventh straight week of exits, with investors withdrawing $ 2.8 million from funds based on the world’s largest cryptocurrency over the past week. Ether registered minor entries totaling $ 3.2 million last week, along with other altcoins such as cardano, litecoin and polkadot, which registered entries of $ 6.4 million, $ 1.8 million. and $ 1.1 million, respectively.

Prior to the rebound in recent weeks, the crypto industry had been plagued by a crackdown in China and concerns about the environmental impact of the energy required to create coins and process transactions. Later, favorable comments from billionaire Elon Musk and Ark Investment Management LLC firm Cathie Wood helped the Bitcoin rally.

(With contributions from agencies)

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