Today’s cryptocurrency prices: Bitcoin is down 11%; Stellar and XRP are down more than 19%.




Today’s cryptocurrency prices are as follows: Bitcoin is down 11%; Stellar and XRP are down more than 19%.

On Coinmarketcap, the price of Bitcoin has dropped 11.64 percent to $46,434 USD. The global crypto market cap is now $2.08 trillion, a 12.19 percent decrease from the previous day.

Bitcoin Dropped by 11%

Today, bitcoin, the world’s largest cryptocurrency, fell by more than 11%. On Coinmarketcap, the price of Bitcoin has dropped 11.64 percent to $46,434 USD. The market capitalization of cryptocurrency has reached $877.265 billion. The global crypto market cap is now $2.08 trillion, a 12.19 percent decrease from the previous day.

Today, other cryptocurrencies were trading in the red. Dogecoin fell 16.41% to $0.2551, while Ethereum fell 12.6% to $3,449

Stellar, a digital token, fell 19.71% to $0.3326, while XRP fell 19.40% to $1.10. Litecoin fell 17.67% to $180.89, while Uniswap fell 16.86% to $23.78.

Cryptocurrency prices have recently risen in response to comments made by billionaire Elon Musk and Cathie Wood of Ark Investment Management LLC.

Elon Musk stated in late July that Tesla would “most likely” resume accepting bitcoin as payment. The remark aided Bitcoin’s rise above the $30,000 mark. In May, the electric vehicle manufacturer announced that it would no longer be a manufacturer.

Why is the value of Bitcoin, Ether, and other cryptocurrencies declining?

On Tuesday, El Salvador became the world’s first country to accept bitcoin as legal tender, despite widespread domestic scepticism and international warnings about consumer risks.

Bitcoin prices dropped by more than 17%, from more than $52,000 per coin to $42,000, before recovering roughly half of that loss on Tuesday, when El Salvador became the first country to recognise Bitcoin as legal tender. However, the rollout was hampered early on, with El Salvador President Nayib Bukele claiming that the digital wallet used for transactions was not operational.

When El Salvador became the first country to recognise Bitcoin as legal tender on Tuesday, the price of the cryptocurrency dropped by more than 17%, from more than $52,000 per coin to $42,000. El Salvador’s president, Nayib Bukele, claimed that the digital wallet used for transactions was not operational when the rollout began.

According to CoinMarketCap, the sell-off on Tuesday was the biggest hiccup in the rally that has pushed Bitcoin up nearly 75 percent since late July. According to CoinGecko’s 24-hour market value tracking, the total value of the cryptocurrency market has decreased by $300 billion.




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