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Monday turned out to be Black Monday for people investing in cryptocurrencies. There was such an earthquake in the crypto market, which is not possible to compensate for the recent times. The price of bitcoin, the world’s most popular cryptocurrency, fell 12.02 per cent or Rs 2,73,718 to a low of 20,03,985. Its market capitalization has also fallen badly to Rs 37.6 trillion.
Strong fall in Ethereum
Along with bitcoin, investors of the world’s second most popular cryptocurrency Ethereum also suffered heavy losses on Monday. By the time the news was written, the price of this digital currency had fallen by 16 percent and its price had broken up to Rs 19,093. After this fall, the value of Ethereum declined to Rs 1,02,121. Simultaneously, its market capitalization also declined to Rs 12.6 trillion at this price.
Tether edge up, rest on red mark
Amidst the strong fall in the crypto market on Monday, only Tether Coin appeared in the lead. Its price decreased by 0.96 percent or Rs 0.80 and its price increased to Rs 84.6. Apart from this, almost all the cryptocurrencies traded in the market were seen trading on the red mark. Talking about the decline, most cryptocurrencies have seen a fall of more than 10 percent.
From Binance to Dodgecoin Crash
Binance Coin (BNB), one of the top cryptocurrencies, fell by 12.49 per cent, or Rs 2,674, to Rs 18,741, while Cardano lost 11.41 per cent to Rs 37.96. The price of Solana fell by 16 percent, while the price of Dodgecoin fell by 17 percent. Apart from this, the price of Polkadot has also come down by 13 percent. Litecoin prices fell by 14 percent, while the Shiba Inu lost 12 percent.