Crypto News Today: All Major Cryptos In Red; Fall Out From The Fresh Contagion

After a breather for some days, top cryptos again in trade on July 21, 2022 are seeing a draw-down by more than 9% on some of the tokens including Solana, Cardano and Chainlink among others. Bitcoin meanwhile is trading with a cut of 2%, still holding levels of $22K, while Ethereum has also corrected, lowering its weekly gains to just 36%.

Reportedly as per the Coindesk report, Bitcoin which is having its best week since March. Nevertheless, the rally somewhat stalled on the previous day on the news flow pertaining to a freeze from Zipmex-the Singapore-based exchange that as per reports has extended borrowings of $100 million to Babel Finance- a financially-distressed crypto company.

So, all in all the cryptoverse keeps pricing in the bad news. Though, following the news global crypto market cap is maintained at $1 trillion, declining over 4% over the previous day.

Also, at the same time there is reported that Vauld has filed a plea for protection from Singaporean creditors. The crypto as a while owes a sum of $402 million to creditors.

Hence while the crypto world continues to faint in the crypto winter, analysts have been warning of a prolonger crypto winter.