Cryptocurrencies: Market capitalisation closes at $1.59 trillion with 3.34% drop

Factual Pursuit of Truth for Progress


It was a bearish move in the cryptocurrencies market on Wednesday as the total market capitalisation dipped by 3.34% to close at $1.59 trillion.

Investors lost about $54.76 billion in a single day. The highly coveted crypto-asset Bitcoin, also recorded a 3.26% decline to close at $38,820.56.

This is also with Ethereum dropping by 5.06% to close at $2,415.74 on Wednesday.

In the meantime, regulators have expressed worries about hidden risks to investors and even the financial system resulting from a fast-growing corner of the crypto market meant to be immune from volatility.


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