Crypto markets are bleeding red. The global market cap is down by 1.15 per cent in the last 24 hours and is at $913.73 billion as of 8:00 AM IST, CoinMarketCap data showed.
Bitcoin is down by 1.19 per cent and is trading at $20,344.
Ethereum also showed downtrend and is at $1,151 after sliding down 1.81 per cent.
The USDT Tether showed 0.02 per cent negative change in its value in the last 24 hours, whereas the USDC stablecoins showed 0.02 per cent positive change and maintained its peg at $1.
The BNB token fell 0.96 per cent, while Solana fell by 4.29 per cent.
XRP Ripple witnessed a downtrend of 1.75 per cent in the last 24 hours.
The ADA token rose 0.65 per cent. Dogecoin tumbled 3.03 per cent.
Meanwhile, the Bitcoin ‘Fear and Greed’ Index has settled at 10, indicating extreme fear.
In other news, Brazilian bank, Nubank, is now allowing its customers to purchase Bitcoin and Ethereum. Interestingly, the Berkshire Hathaway has a significant amount of investment in the bank. It’s worth noting that Warren Buffett, the CEO of Berkshire Hathaway has often expressed pessimism when it comes to cryptocurrencies.
Ace investor Cathie Woods, CEO of Ark Invest says the revolution around crypto is underway and it will not be stopped.
Huobi crypto exchange will reportedly layoff over 30 per cent of its staff due to the revenue drop following the removal of Chinese users.
