CRYPTOCURRENCY PRICES UPDATES: Cryptocurrency values fell on Friday, despite the fact that Bitcoin continued to trade above USD 20,000 per unit. The price of the biggest and most widely used cryptocurrency in the world fell by more than 1 percent to USD 20,049 at the time. According to CoinGecko, the market capitalization of all cryptocurrencies fell below the USD 1 trillion threshold today after falling by about 2 percent over the previous day to USD 998 billion.
The second-largest cryptocurrency, Ether, which is connected to the Ethereum network, dropped more than 1 percent to USD 1,358. Shiba Inu's price dropped by roughly 3 percent to USD 0.000011, while Dogecoin's price fell by 2 percent to USD 0.06.
Avalanche, Binance USD, Polkadot, Cardano, Chainlink, Tether, ApeCoin, Solana, Litecoin, XRP, Stellar, Terra, Polygon, and Stellar prices were trading with slight losses over the last 24 hours, whilst Tron and Uniswap gained value. Other cryptocurrency values performed differently today.
As central banks throughout the world raised interest rates to tame growing inflation, the value of the global markets fell over the past few months. As fears of a recession increase, risky assets like cryptocurrency have been particularly severely hit.
According to Bloomberg, the recent theft on digital assets appears to have taken almost USD 100 million worth of Binance Coin, further destabilising an already disastrous year for cryptocurrencies. According to Changpeng "CZ" Zhao, co-founder of Binance, an exploit took place on a bridge connecting blockchains, but the problem is "contained now." Zhao posted this on Twitter on Friday. According to Bloomberg, this year's cryptocurrency attacks cost victims almost USD 2 billion.
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