For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Cryptocurrencies Down In Trade; Year-Ender Low Volumes Cited As One Reason For The Fall

|

Similar to equities which have been trading range bound, there is no momentum seen in the novel-much in news digital asset class-cryptocurrencies. The largest and most popular crypto is down by over 1 percent, likewise other top 20 cryptoassets as compiled by Coindesk.com are seeing decline by up to 4 percent. Meanwhile the one's defying the action are Algorand and Cosmos crypto.

 
Cryptocurrencies Down In Trade; Year-Ender Low Volumes Cited As One Reason

There is a signal that amid the year-ender holidays, volumes in the digital assets have tumbled.

At the time of writing this copy at around 3:10 pm (IST), bitcoin traded below $47K and gains on the Algo have come off subsequent to Algrorand Foundation announcement of liquidity incentive program with the crypto's first algorithmic money market and stablecoin protocol Algofi.

Notably such a sell-off in Bitcoin, there is reported an increase in the buying of put options.
Further as per a report, Binance Coin, which is the third largest in m-cap has increased by a significant 1100% on a YTD basis.

GoodReturns.in

Read more about: bitcoin cryptocurrency
Story first published: Thursday, December 30, 2021, 15:23 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X