Hundreds of billions were wiped out of the cryptocurrency market on Tuesday, amid a market-wide crash that saw the prices of major cryptocurrencies including bitcoin, ethereum, cardano and solana fall sharply from near-record highs this week Is.
The price of bitcoin fell to around $60,500 on Tuesday morning, down 8% from 24 hours ago, according to coingeco,
Most of the major tokens—including Ethereum, XRP, Cardano, Solana, and Dogecoin—have experienced similarly sharp declines over the past 24 hours, falling between 7% and 10%.
Of the four most valuable cryptocurrencies by market capitalization — excluding the largest, bitcoin and Tether, a stablecoin pegged to the USD — Ether fell 9.6% to nearly $4,300, Binance’s BNB 8.9% to $590, Solana 7.5% from $225 and Cardano fell 9%. $1.90.
XRP, Polkadot, Dogecoin and Shiba Inu Coin—the next largest cryptocurrencies by market cap, excluding another stablecoin, USD Coin—fallen 9.3%, 12.4%, 8.8% and 6%, respectively.
The loss comes as part of a broader path into the cryptocurrency market, which is now valued at around $2.76 trillion, down 8.6% from a day earlier, according to CoinGecko.