The cryptocurrency market has grown immensely over the past year, with Bitcoin reaching an all-time high in April 2021. However, the cryptomarkets have seen a small downturn today, as most major cryptocurrencies and Altcoins have dropped in value. Read on to know the crypto news updates about the changes in the crypto market today.
Why is Crypto Market Down Today?
Ever since the May 19 crypto crash, the crypto markets and most major cryptocurrencies have been moving sideways and occasionally rising up. Bitcoin has been hovering between $35-40,000 over the past week. There are many factors that influence the crypto markets, and recent news about Biden’s new $6 trillion budget to boost infrastructure, has moved a lot of crypto investments into the stock market investments, as per a theory on Reddit.
At the time of writing this article, Bitcoin stands at a price of $35,849, down from a 24-hour high price of $40,249, which makes Bitcoin down 8 per cent since yesterday. Etherum is also down 11 per cent, from a 24-hour high of $2860 to a low of $2479. Dogecoin is down 7.8 per cent, down from a 24-hour high of $0.34 cents to a low of $0.31 cents. Matic, which has shown immense returns in the past few weeks is down 16 per cent, from a high of $2.25 to $1.8.
Binance Coin (BNB) is down 12 per cent, from a high of $387 down to $325. Litecoin is down 6 per cent, from a high of $208 to a low of $182. Chainlink is down 16 per cent, from a high of $35 to a low of $28.5. Uniswap is down 7 per cent, from a high of $29.9 to a low of $25. Cardano is down 12 per cent, from a high of $1.7 to a low of $1.51. Most other major coins are also down, with the exception of PUSH, up by 8 per cent and Helium (HNT), up by 4 per cent. Theta Fuel (TFUEL) has seen major growth, going up 11 per cent in a span of 24 hours. Stay tuned for more news on crypto markets.