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Crypto Economy Faces Loss in big Market hit, Market on The “Slow” Rebound

The crypto economy had a huge dip causing the market value of several popular digital currencies to take a hit but it has been on the mend since.

Patty Lagera / Getty Images

The Crypto economy has taken a considerable dive in the last 24 hours. Billions have left the economy in a matter of mere hours. Presently, the economy has easily lost more than 16% of USD value. However, the market is slowly on the rebound now, as it overcomes a double-digit loss overnight.

Bitcoin (BTC) has dropped from $53K per unit region all the way down to $43.9K in the very first hour of Saturday morning. While this drop was a considerable one, causing BTC to go down to 17.16%, the crypto asset was able to see a rise of 7.28% in the aftermath of the situation. Bitcoin managed to overtake the $47K region as well as reach an overall market evaluation of $895 billion or so. As of right now, Bitcoin holds a current price of $49,063.

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#CoinPriceMarketcapChange (24H)Price Graph (7D)

Ethereum, the 2nd largest market valuation lost 13.9% in the past day however 7-day metrics indicate that it’s only down by 2.2% after reaching an all-time high. Currently, Ethereum (ETH) holds a price of $4,079.

A big hit was taken by Dogecoin (DOGE) as it shed 21.9%, with Polkadot (DOT) losing 21.7% in the past day. At the time of writing, both Dogecoin and Polkadot hold their prices of $0.177402 and a mere $29.39.

Solana and XRP lost 18.2% and 19.8% during the market crash, respectively. Cardano on the other hand, fell 17.5% in the past day. Binance was however one of the few to survive as it shed about only 12.7% during said drop. Currently, Solana holds the price of $202 at 4.01%, with Cardano at $1.43 and 9.74%. Binance sits at $565.17 and 4.63%

At present, Bitcoin has taken command as it leads the charts, with Ethereum not far behind on the list. While the drop was a significant one, prices seem to be on the rebound as the market recovers.


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