An early-morning error led to the value of Bitcoin dropping nearly 87 percent on Binance's crypto exchange.
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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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Each asset holds a value, often priced in U.S. dollars, which leads to another use case: trading and investing. Aside from stablecoins — which seek to stabilize the instability of cryptocurrencies by pegging an asset to something else, such as the U.S. dollar — most cryptocurrencies constantly fluctuate in price. You can trade between cryptocurrencies and national currencies (called fiat currencies) on exchanges, depending on the trading pairs available on the platform of choice.
Bitcoin price hits new record high - why is Bitcoin up today? Cryptocurrency prices of Bitcoin, ETH and Shiba Inu (Image credit: Getty Images/Canva Pro)
With such tokenomics, Bitrise coin is attracting thousands of investors, even from the most popular coins.
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