Bitcoin, the world’s biggest and most popular cryptocurrency, was trading more than 4% down today at $15,973, falling below the $16,000 level. However, Ether, the second biggest cryptocurrency and the token tied to the Ethereum blockchain, fell by more than 8% to $1,118.
The #Bitcoin mining difficulty has just reached another all-time high.
Meanwhile, the price is down 76% from the all-time high price.
Wild stuff. pic.twitter.com/wP6JcPhPK8
— Your Friend Andy (@OhHaiAndy) November 21, 2022
According to CoinGecko statistics, today’s global crypto market valuation stayed below $1 trillion, falling over 5% in the previous 24 hours to $828 billion, as crypto prices continued to suffer in the protracted crisis precipitated by the collapse of Sam Bankman-once-powerful Fried’s FTX empire.
Meanwhile, the price of dogecoin today was over 11% down at $0.07, while Shiba Inu was down over 7% at $0.000008. Other cryptocurrency values have fallen in the past 24 hours, including Tether, XRP, Binance USD, Uniswap, Polygon, Avalanche, Solana, ApeCoin, Chainlink, Polkadot, Terra, Tron, Litecoin, Stellar, and Cardano.
The collapse of FTX has reverberated across the sector, limiting liquidity at organizations with stakes to what was once one of the world’s largest crypto exchanges and leading authorities in numerous countries to launch investigations.
FTX is the latest crypto exchange to face financial difficulties this year, as the value of crypto assets has plummeted. Other collapses include Three Arrows Capital, an Asia-based hedge fund, and Celsius, a bank-like organization that accepted crypto deposits in return for income.