Bitcoin's downward trend resumed on Tuesday, November 23, when the price fell below $57,000. After scaling lifetime highs earlier this month, the world's largest cryptocurrency in terms of traded units saw a sell-off in recent weeks.
On Tuesday, the price of bitcoin was hovering around $56,000. According to data from the cryptocurrency tracking website CoinMarketCap, the price of one unit of Bitcoin was $56,317.56 at the time of writing this article. According to the data, this was down 1.96 percent in the prior 24 hours and 6.98 percent in the previous seven days.
On Monday, CoinDesk verified that Royal, the music tokenization platform founded by DJ and entrepreneur Justin "3LAU" Blau, concluded a $55 million Series A fundraising round.
Crypto-assets, according to IMF spokesman Gerry Rice, pose dangers to various parts of the financial system, including operational stability, financial integrity, investor protection, and environmental aspects.
After Ava Labs announced cooperation with Deloitte last week to construct more efficient disaster relief platforms, the Avalanche token, AVAX, skyrocketed. Avalanche has more than doubled in the last 30 days and is up over 3,000% in the last year.
According to Bank of America, the release of the Treasury report Report on Stablecoin (RoS) earlier this month is a "indication of urgency" for the regulation of stablecoins, given its potential to become a legitimate payment method.
Shibu Ina's value has dropped 0.36 percent in the previous 24 hours, climbing to $0.00004388. In the last week, the value of the digital token has dropped by 11.95 percent. Dogecoin, however, has down 0.16 percent in the last 24 hours to $0.222. In the last seven days, the cryptocurrency has lost 9.16 percent of its value.
XRP increased by 1.43 percent to $1.05, while Cardano increased by 0.77 percent to $1.81. Solana, a digital cryptocurrency, increased by 0.17 percent to $220.42.
According to the data on the crypto tracking website, Solar Energy was the top gainer in the worldwide crypto market. The value of one token has surged by 8,863.58 percent in the last 24 hours. According to statistics, one token was worth $0.0006243.