Business
Crypto selloff: Bitcoin, Ethereum, others see prices tumble
The cryptocurrency market was seen trading in the red zone in the early hours of today.
The total global cryptocurrency market cap drops by 1.67% to 1.19trn, with top cryptocurrencies Bitcoin and Ethereum prices tumbling 2.4% and 1.9% each.
Before the recent legal actions and investigations against crypto exchanges, the market movement has not been stable.
Binance CEO, Changpeng Zhao has been under regulatory scrutiny by the U.S.
READ ALSO: Bitcoin hits two-year low as Binance abandons FTX acquisition
Commodity Futures Trading Commission (CFTC) on anti-money laundering and know-your-customer policy compliance issues with the most recent one from an Australian regulatory investigation.
All these cause a lot of worries across the crypto market with investors having a strong willingness to sell, driving the price of bitcoin, Ethereum and other altcoins down. Analysts would continue to monitor the movement of the market and place more attention on the Bitcoin movement.
If Bitcoin tumbles and trades to the downward trend, Ethereum will head down and every other altcoin will follow suit.
-
Football4 days agoAfrica breaks World Cup record with seven teams in knockout stage
-
Latest6 days agoAlleged xenophobic attack claims life of Malawian street vendor in South Africa
-
Comments and Issues5 days agoNorway’s Rowing Celebration Captures The Spirit Of The World Cup
-
Football5 days agoNetherlands to face Morocco, Brazil draw Japan in 2026 World Cup round of 32
-
Entertainment1 day agoActress Cossy Ojiakor shares flooded home as heavy rainfall wreaks havoc in Lagos
-
Aviation1 week agoHeading through the storm: Multiple taxes, complex leasing drag on Nigerian carriers
-
Energy6 days agoLeaked court documents allege Shell ignored pipeline safety warnings in Niger Delta
-
Business4 days agoNAFDAC, FCCPC others partners OSOA Foods advocacy on food safety, MSME growth