- The total value of all cryptocurrencies fell by 2.33 percent to $2.39 trillion.
- Bitcoin has fallen below the $50,000 mark due to the bearish trend.
In the last days of the year, the value of global cryptocurrencies plunged into the red. The total value of all cryptocurrencies fell by 2.33 percent to $2.39 trillion. Another small factor contributing to the decline in value is the selling of coins by investors who are reaping the benefits of the year’s end and the December holiday season.
According to CoinMarketCap, the current Bitcoin price is $49,256.67 USD with a trading volume of $28,079,893,740 USD in the last 24 hours. In the previous twenty-four hours, the price of bitcoin has dropped by 3.12 percent. The bitcoin price, the world’s oldest coin, has fallen below the $50,000 mark due to the bearish trend.
The current price of Ethereum is $3,928.67 USD with a trading volume of $13,860,088,244 USD, according to CoinMarketCap. In the previous twenty-four hours, the price of Ethereum has dropped by 3.32 percent. The vast majority of cryptocurrencies were trading in the downtrend. Moreover, Solana, SHIB and AVAX all are in red.
Binance Gets a Stronghold in MENA
According to the crypto exchange, CBB has become the first regulator in the Middle East and North Africa (MENA) area to approve a Binance business in principle. The incorporation and registration of a new firm, ‘Binance Canada Capital Markets Inc.,’ have been completed and approved by Canada’s Financial Transactions and Reports Analysis Centre.
As of December 27, Binance, the world’s biggest cryptocurrency exchange by volume, has gained in-principle authorisation from Bahrain’s central bank to operate as a crypto-asset service provider.
