Investing.com | Editor Venkatesh Jartarkar
Published Oct 11, 2023 01:25PM ET
The global cryptocurrency market capitalization fell by $3 billion to $1.04 trillion amidst a bearish market and escalating Middle East crisis, according to data from TradingView on Wednesday. This downturn comes as investors increasingly view Bitcoin as a safe haven asset amid geopolitical uncertainty.
Bitcoin’s market share, represented by BTC.D, surged to a four-month high of 51% on Wednesday. The digital currency’s growing dominance underscores its perceived strength as a store of value during turbulent economic times.
In related news, Binance, one of the leading cryptocurrency exchanges, announced it will delist its XRP/BUSD trading pair on October 17. The decision follows a record low of 71,820 XRP transactions and a price drop from $0.54 to $0.49. This move is part of Binance’s ongoing strategy to replace BUSD with FDUSD.
The delisting decision comes after a period of declining activity and value for the XRP/BUSD pair. It aligns with Binance’s broader plan to shift towards FDUSD, which the company believes offers better prospects for its platform and users.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Get The News You Want
Read market moving news with a personalized feed of stocks you care about.
Get The App
Written By: Investing.com
