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The cryptocurrency market woke up to a shock in early trading on Thursday morning. On the Binance US cryptocurrency exchange, the value of Bitcoin (BTC) plummeted nearly 87 percent in value, settling around $8,200. The issue that caused the value spike was reportedly corrected swiftly and the Bitcoin value returned to its normal levels within a couple of minutes.
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Following these, cryptocurrencies’ market capitalisation have surged over USD 3 trillion, Reuters reported CoinGecko. On the CoinMarketCap platform, cryptocurrency market capitalisation was slightly below USD 3 trillion, the Reuters report.
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Bitcoin and some other cryptocurrencies’ values have skyrocketed in recent years. Bitcoin’s price has more than doubled in 2021, and Ethereum has more than quadrupled in value this year.
As of 8am ET on Thursday morning, it was slightly up in early trading. Bitcoin, however, was down under $65,000 at 8am ET, according to CoinBase.
Cardano is up over 9 percent in the last 24 hours and nearly 14 percent in the previous week. It is priced at around $2.23.
Crypto billionaire Sam Bankman-Fried says solana is better than ethereum as it's one of the few networks able to handle mass adoption
Brooks led the Office of the Comptroller of the Currency (OCC) before joining Binance.US. At the time, his move to Binance.US raised some eyebrows because Binance is not seen as the poster child of compliance, particularly compared to Coinbase where Brooks worked before joining the OCC.
Douglas Horn, the chief architect of Telos, told Business Insider that they kept away from marquee investors because they didn’t want to create any big whales that could influence the price of the TLOS token.
Former Reserve Bank of India (RBI) deputy governor R Gandhi on Tuesday made a case for treating and regulating crypto as a separate asset class with a view to enabling governments around the world to effectively deal with illegal activities associated with virtual currencies.
For more on trending cryptocurrencies, check out the latest on Save Planet Earth, IOST, Bonfire, Arweave, and TrueFi.
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After an initial sharp share price increase of 910% in April, the crypto is currently valued at £0.000003 after recovering 7.4% in the last 24 hours (22-23 June).
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