Cryptocurrency prices fall today after rally in previous session Bitcoin Below the $43,000 level. The world’s largest digital token was trading at $42,787, down more than 2%. Bitcoin is down nearly 8% since the start of the new year.
Ether, the coin tied to the Ethereum blockchain and the second largest cryptocurrency, tanked nearly 3% to $3,266, according to CoinDesk. On the other hand, Dogecoin price was trading more than 9% at $0.17 while Shiba Inu fell almost 7% to $0.0000030. Meanwhile, Binance Coin was marginally lower at $480.
Other cryptos such as Solana, Cardano, XRP, Litecoin, Polkadot, Polygon, Stellar, Uniswap, Solana also slipped in the last 24 hours while Tether, USD Coin, Binance USD. were trading with slight gains. Meanwhile, according to CoinGecko, the global cryptocurrency market cap stands at $2.15 trillion today, a decline of over 2%.
Major cryptocurrency exchange Coinbase said that it is buying a crypto futures exchange, FairX, as a move to offer crypto derivatives to traders in the United States. FairX, which was launched last year, is the operating name of LMX Labs. It sells futures products and is regulated by the US Commodity Futures Trading Commission (CFTC). Coinbase said it wants to make the trading of regulated crypto derivatives accessible to retail and institutional clients.
According to a report by digital asset manager CoinShares, crypto investment products and funds saw net outflows in the first week of 2022, totaling a record $207 million. The sector has experienced four consecutive weeks of outflows since mid-December, reaching a total of $465 million, or 0.8% of total assets under management.
(with inputs from agencies)
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