Bitcoin price today: Crypto Price Today Live: Bitcoin, Ethereum dip marginally; Solana tanks 9%, Cardano 4%

Synopsis

Solana, a cryptocurrency token praised by FTX founder Bankman-Fried, fell 10.36% on Thursday and is down 94.2% for the year. The collapse of FTX has affected the liquidity of firms with connections to the once-major crypto exchange, including Solana. While the token has a limited connection to FTX but has been negatively impacted by its association with Bankman-Fried.

Bitcoin price today: Crypto Price Today Live: Bitcoin, Ethereum dip marginally; Solana tanks 9%, Cardano 4%  0IANSHINDIThe global cryptocurrency market witnessed a decline on Thursday, with almost all major cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin trading in the red.

The total market cap for cryptocurrencies fell 2.97% to $823.29 billion. Bitcoin and Ethereum, which make up over 50% of traded cryptocurrencies, significantly impacted the overall market cap with their negative movements.

The market is still reeling under the collapse of the FTX empire and the decreased demand for digital assets due to tough market conditions.

Bitcoin, the leading cryptocurrency, has lost 60% of its value this year, while the wider crypto market has declined by $1.4 trillion due to the collapse of Sam Bankman-Fried’s FTX empire, Celsius, and ‘stablecoins’ terraUSD and Luna.

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View Details »Solana, a cryptocurrency token praised by FTX founder Bankman-Fried, fell 10.36% on Thursday and is down 94.2% for the year. The collapse of FTX has affected the liquidity of firms with connections to the once-major crypto exchange, including Solana. While the token has a limited connection to FTX but has been negatively impacted by its association with Bankman-Fried.

Global Update
US-based crypto exchange Kraken announced on Wednesday that it will cease operations in Japan next month due to current market conditions in the country and a weak global crypto market. Kraken will deregister from the Financial Services Agency (JFSA) on Jan. 31, and clients will need to withdraw their fiat and crypto holdings by then. Kraken stated that it is fully funded to ensure affected clients can withdraw their assets in a timely manner. Last month, Kraken announced that it would reduce its workforce by 30%, or about 1,100 employees, due to tough market conditions causing a decrease in demand for digital assets.

This is how major cryptocurrencies have traded
• Bitcoin $16,776.27 (-0.36%)
• Ethereum $1,198.86 (-0.19%)
• Tether $1.02 (No change)
• USD Coin $1 (0.02%)
• BNB $248.63 (+0.01%)
• XRP $0.3507 (0.15%)
• Dogecoin 0.07151 (-1.77%)
• Cardano $0.2489 (-4.06%)
• Polygon $0.7955 (-1.95%)
• Polkadot $4.37 (-3.47%)
• Tron $0.05419 (+0.14%)
• Litecoin $67.34 (-4.37%)
• Shibu Inu $0.000008187 (-1 .79%)
• Solana $10.27 (-9.27%)

Bitcoin price today: Crypto Price Today Live: Bitcoin, Ethereum dip marginally; Solana tanks 9%, Cardano 4%  1Bitcoin price today: Crypto Price Today Live: Bitcoin, Ethereum dip marginally; Solana tanks 9%, Cardano 4%  2Thursday, 29 Dec, 2022Experience Your Economic Times Newspaper, The Digital Way!Read Complete Print Edition »

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    Updated: 12/29/2022 — 04:00