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

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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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Francis Ogwo
The young and goal driven writer and cinematographer started his journalism as a print journalist in Kaduna in 2005 writing for Kaduna Chronicles Newspapers, Liberator Newspapers where he became the South Bureau Chief. In 2008, he moved into TV production with an employment into Siverbird Television and Rhythm Fm as a Correspondent. He got certified by Independent Television Producers Association of Nigeria(ITPAN) in 2009. After five years of hardwork and training, he was employed as Associate Producer, Moments With Mo and subsequently Producer, Playground on HipTV. Francis currently majors in documentaries and high profile scripts for news and movies. He is currently a Senior Contents Producer at News Central TV

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