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Cryptocurrency markets bleed, Bitcoin at $28,000; will markets recover?

Cryptocurrency markets bleed, Bitcoin at $28,000; will markets recover?

Global market cap slides down by 5.47 per cent and is at $1.23 trillion; majority top tokens witness downtrend in value in the last 24 hours.

Majority top tokens witness downtrend in value in the last 24 hours. Majority top tokens witness downtrend in value in the last 24 hours.

Cryptocurrency markets have slipped down in the last 24 hours. The global market cap is down by 5.47 per cent in the last 24 hours and is at $1.23 trillion as of 7:30 AM IST, CoinMarketCap data showed.

Bitcoin is down by 4.56 per cent and is trading at $28,831.

Ethereum also showed major downtrend and is at $1,922 after sliding down 7.07 per cent.

The USDT Tether showed 0.03 per cent downtrend in its value in the last 24 hours, whereas the USDC stablecoins showed 0.01 per cent downward change and maintained its peg at $1.

The BNB token is now down by 4.89 per cent.

Solana fell by a significant 11.64 per cent.

XRP Ripple is also down by 6.25 per cent in the last 24 hours. 

The ADA token showed 12.11 per cent downtrend.

Solana fell by 3.05 per cent.

BinanceUSD, the stablecoin coin by Binance exchang.e showed 0.00 per cent change in its value.

Dogecoin slipped by 6.97 per cent.

Overall, the major top tokens slid from their positions in the last 24 hours.

In other news, Meta, previously Facebook, has filed trademark applications for 'Meta Pay', indicating plans to launch a payment platform with crypto support.

After the Terra Luna crash, South Korea is reportedly considering a stricter licensing system for cryptocurrency issuers.

On this day 12 years ago, a man paid 10,000 Bitcoin for two pizzas. Today, 10,000 Bitcoin are worth $294M. 

Also read: Washout! Terra down 100%, crypto exchanges de-list LUNA and UST 

Also read: Terra Luna crash turns value of 4th biggest crypto to zero, all cryptocurrencies in free fall