Bitcoin Price Today: Crypto Price Today Live: Bitcoin, Ethereum Drops Slightly; Solana 9%, Cardano 4% reservoirs

[ad_1]

The global cryptocurrency market saw a decline on Thursday, with almost all major cryptocurrencies, including Bitcoin, Ethereum and Dogecoin, trading in the red.

Total cryptocurrency market cap fell 2.97% to $823.29 billion. Bitcoin and Ethereum, which account for over 50% of the cryptocurrencies traded, had a significant impact on the overall market capitalization with their negative movements.

The market is still reeling from the collapse of the FTX empire and falling demand for digital assets due to tough market conditions.

Bitcoin, the main cryptocurrency, has lost 60% of its value this year, while the broader crypto market has shrunk by $1.4 trillion due to the collapse of Sam Bankman’s FTX empire. -Fried, Celsius, and stablecoins terraUSD and Luna.

Solana, a cryptocurrency token leased by FTX founder Bankman-Fried, fell 10.36% on Thursday and is down 94.2% for the year. The collapse of FTX has affected the liquidity of companies connected to the once major crypto exchange, including Solana. While the token has a limited connection to FTX but has been negatively impacted by its association with Bankman-Fried.

Global Update US-based Kraken announced on Wednesday that it will cease operations in Japan next month due to current market conditions in the country and weakness in the global crypto market. Kraken will deregister from the Financial Services Agency (JFSA) on January 31, and customers will be required to withdraw their fiat and crypto holdings by then. Kraken said it is fully funded to ensure affected customers can withdraw their assets in a timely manner. Last month, Kraken announced that it would cut its workforce by 30%, or about 1,100 employees, due to difficult market conditions leading to lower demand for digital assets.

This is how major cryptocurrencies traded Bitcoin $16,776.27 (-0.36%) Ethereum $1,198.86 (-0.19%) Tether $1.02 (No change) USD Coin $1 (0.02%) BNB $248.63 (+0.01%) XRP $0.3507 (0.15%) Dogecoin 0.07151 (-1.77%) Cardano $0.2489 (-4 .06%) Polygon $0.7955 (-1.95%) Polkadot $4.37 (-3.47%) Tron $0.05419 (+0.14%) Litecoin $67.34 (-4.37%) Shibu Inu $0.000008187 (-1.79%) Solana $10.27 (-9.27%)

[ad_2]