BTC is trading around $5,247 at press time, dropping 5% over the day and forming a new weekly low. Bitcoin’s monthly gains remain in positive territory, at about 32%, while its weekly chart reports a loss of 0.84%.
The second largest coin by market capitalization ethereum (ETH) is also suffering a slump, having lost 6.23% in the last 24 hours. At press time ETH is trading at $155.31, also hitting a new weekly low. On its monthly chart, the ETH price has gained around 15.55%.
Ripple (XRP) has a 2.64% loss in the last 24 hours, and is trading at around $0.295 at press time. The coin saw its weekly low today at $0.288, while its weekly high was at $0.332 on April 19.
Stablecoin tether (USDT) — that previously faced controversy after critics suspected the coin of operating a fractional reserve while issuing more tokens than they had backing for — is trading at around $0.993 at press time, reporting a loss of around 1.60% over the past day.
Yesterday, the New York Attorney General’s office alleged that crypto exchange Bitfinex lost $850 million and subsequently used funds from Tether to secretly cover the shortfall. Bitfinex allegedly took not less than $700 million from Tether’s reserves and used the funds to hide losses and inability to handle clients’ withdrawals.
BSV is the only coin in the top 20 cryptocurrencies in the green. The coin’s price is currently around $54.33, reporting a gain of around $3.56% on the day.
Total market capitalization of all digital currencies is around $169.9 billion at press time, having started the day at $172 billion. The weekly high of the total market cap was around $185.3 billion on April 23.
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