• Global crypto market cap dropped over 4.5% in the last 24 hours
• Bitcoin (BTC) returned to the $21K price range
• Ethereum (ETH) price dropped over 4% in the last 24 hours

Global Crypto Market Cap Dropped Over 4.5% in a Day

The overall cryptocurrency market is slightly down after six weeks of bullish. At the time of writing, the global crypto market has a market cap of $1.05 trillion, which decreased by over 4.5% in the last 24 hours and 49% from the previous year.

Crypto Market Current Status

The upward peak in the market has not stayed a bit longer as February beings with a decline and new scandals in the crypto industry. The crypto king Bitcoin (BTC) once again rejected its $24K price range and returned to the $21K price level. According to CoinGecko, BTC dropped around 7% in a week and 4% in a day to trade at $21,756. Still, Bitcoin price is up by 25% in the last 30 days and holds market dominance by 40%. Additionally, it has a 24-hour trading volume of $50 billion, which increased by 10%.

On the other hand, Ethereum (ETH) price declined by 6% in the last 24 hours and traded at $1,538. ETH is trading at same price level since November 2022 with 7 % drop from previous week and 17.5 % markt dominance . It has a 24-hour trading volume of $11 billion . Other altcoins such as Binance coin BNB , Ripple’s XRP , Cardano (ADA), Plygon (MATIC), Dogecoin (DOGE) and Shiba Inu (SHIB) are also trading with red marks on their charts .

New Challenges For Crypto Community

A new challenge has arrived for crypto community as U.S Securities & Exchange Commission(SEC ) intends to prohibit crypto-staking activities that are based on blockchains like Ethereum while Kraken cryptocurrency exchange was charged today by SEC .

Summary

The global cryptocurrency market is slightly down after six weeks of bullish due to some new challenges & scandals . Bitcoin(BTC ) dropped around 7 % from previous week & Ethereum(ETH )dropped 6 % from previous day . Altcoins like Binance coin BNB , Ripple’s XRP , Cardano (ADA), Plygon (MATIC), Dogecoin (DOGE) & Shiba Inu(SHIB )are also trading with red marks on their charts . U.S Securities & Exchange Commission(SEC ) intends to prohibit crypto-staking activities that are based on blockchains like Ethereum while Kraken cryptocurrency exchange was charged today by SEC

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