- Today Bitcoin and Ethereum dropped nearly 2% and 4%.
- SOL and AVAX, found to be the top gainers in the top 10 cryptos.
- Some of the top private banks are warning the customers invested in Crypto.
The entire crypto market follows a bullish trend for the past few months. All cryptocurrency Bitcoin and the altcoins also surged high. But in the past few days, the top cryptocurrency in the crypto market is facing a price drop. And today, the largest cryptocurrency of the Crypto market Bitcoin and Ethereum dropped nearly 2% and 4%.
Furthermore, Solana (SOL), Avalanche (AVAX) found to be the top gainers in the top 10 cryptocurrencies. After this drop, the entire crypto market cap declined by over 2% to the $2.36 trillion mark compared to the previous day. However, the global crypto market volume zoomed over 5% to $108.88 billion.
More so, the founder of itsblockchain.com, Hitesh Malviya, mentioned,
“Metaverse and NFT gaming base cryptocurrencies had outperformed the crypto market last week, and they can continue to do so due to the massive rise of demand from the retail investors.”
Accordingly, some of the top private banks are warning the customers who invest in cryptocurrencies about the risks associated with the asset class. However, the government is working on legislation to regulate cryptocurrencies.
Even more, El Salvador said it intends to provide the world’s first sovereign Bitcoin bonds and build Bitcoin City. Which will be completely free of income, property, and capital gains taxes, President Nayib Bukele announced in the beach town of Mizata to a crowd of cheering Bitcoin fans.
Current Market Status
Henceforth, at the time of writing, according to CoinMarketCap, Bitcoin’s (BTC) price was trading at $57,442.59 with a drop of nearly 2.28%. And the second-largest crypto Ethereum (ETH) price is trading at $4,197.68 with a drop of roughly 3.27%. Meanwhile, Solana’s (SOL) price was trading at $218.06, its price has gained over 1.70% in the last 24 hours, and Avalanche (AVAX) price waving at $134.07 with the gain of over 37% in the last 7 days.
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