Currency Economy

Bitcoin, ethereum plunge; crypto market cap losses nearly $1 trillion

Forex16 minutes ago (May 19, 2021 10:43AM ET)Bitcoin, ethereum plunge; crypto market cap losses nearly $1 trillion© Reuters. FILE PHOTO: A representation of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken March 15, 2021. REUTERS/Dado Ruvic/Illustration

NEW YORK (Reuters) – Bitcoin and ethereum posted their largest one-day drop since March last year on Wednesday, with losses in the market capitalization for the entire cryptocurrency sector approaching $1 trillion.

The sharp declines came after China banned financial and payment institutions from providing cryptocurrency services.

Bitcoin dropped to $30,066, the lowest since late January. It was last down 22% at $33,502. The most popular cryptocurrency posted its largest one-day loss since March 2020.

Ethereum fell to as low as $1,850, its weakest level since late January as well. It was last down 28% at $2,439. Ethereum’s one-day losses were the biggest since March last year.Bitcoin, ethereum plunge; crypto market cap losses nearly $1 trillionAdd a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s