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BusinessCryptocurrencyBitcoin Crashed 87% On Binance's U.S. Exchange Due To Algo Bug Another day, another major snafu in cryptocurrency trading. The price of Bitcoin rapidly plunged about 87% on Binance's U.S. exchange Thursday morning.
Its market cap and individual unit value consistently dwarf (by a factor of 10 or more) that of the next most popular cryptocurrency. Bitcoin has a programmed supply limit of 21 million Bitcoin.
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Billionaire Elon Musk has also already gotten involved with DogeZilla by posting a tweet.
Bitcoin hit an all-time high of $68,530.34 early Tuesday, according to CoinMarketCap. That's just a few weeks after it hit a previous high of nearly $67,000 before sliding as much as 12%.
Shortly after achieving these astronomical new heights, Bitcoin’s price fell back toward $62,700 before recovering slightly to around $64,500, while most altcoins endured near double-digit losses.
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The global cryptocurrency market cap has grown by 2.63 percent over the previous day to $2.94 trillion, data from coinmarketcap.com shows.
Litecoin price has entered a tight congestion zone since the initial spike above the Cloud on October 20th. The trading range has been limited to the Tenkan-Sen at $196 above and Senkou Span B at $188 below. Thus, Litecoin has prime conditions for a bullish expansion move to occur, but bulls are unable or unwilling to make that happen.
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The worldwide crypto market capitalization is currently $2.90 trillion, decreasing 1.25% over the last day. (Shutterstock)
Over the last 24 hours, Ether (ETH), the currency for the Ethereum network, went from ₹3,86,457 to ₹3,80,498, with a market cap of ₹41.7T. In the same time, Litecoin (LTC) moved down from ₹23,859 to ₹21,497, a change of -9.90%, with a market cap of ₹1.4T. Ripple, or XRP, is another hugely popular token, with a market cap of ₹4.3T. In the last day, its value has changed -7.36%, moving from ₹105.61 to ₹97.85.
@thebearablebull it’s time to switch to a digital currency. Fiat is dirty and is cause for the spread of the corona virus. Could this be the catalyst that advances utility of XRP???
The cryptocurrencies described here are marked by stable adoption, robust user activity, and relatively high market capitalization (greater than $10 million, in most cases, although valuations are of course subject to change):