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The world’s largest and most well-known cryptocurrency, Bitcoin, had its value drop by more than 1% today to $16,830. The largest coin is down 75% from its previous record high of $69,000.
The second-largest cryptocurrency, Ether, which is linked to the Ethereum network, dropped more than 2% to $1,228 in contrast. Shiba Inu was down more than 2% at $0.000009, while Dogecoin was trading more than 4% lower at $0.09 today.
Other cryptocurrency values also performed poorly today, with prices for Binance USD, Avalanche, Tether, Terra, Solana, Polygon, ApeCoin, Stellar, XRP, Cardano, Uniswap, Polkadot, Chainlink, Litecoin, and Tron all trading at lower levels compared to the previous day.
According to data from CoinGecko, the market capitalization of all cryptocurrencies worldwide today stayed below $1 trillion after falling 2% over the previous day to $875 billion.
Binance.US Following the collapse of FTX, US, the US partner of the largest digital asset exchange in the world, is lowering trading costs in an effort to attract more customers’ money. Following a similar step with Bitcoin in June, the exchange will now provide zero-fee trading on four of the most actively traded Ethereum market pairings. Additionally, it offered volume-based discounts as well as a 25% fee markdown for all trading pairs when platform cryptocurrency Binance Coin is used to pay for the fees.
With the price of bitcoin falling precipitously this year, the spectacular implosion of FTX has sent new shockwaves across the cryptocurrency market. After a week in which a potential merger with competing cryptocurrency exchange Binance collapsed, FTX declared bankruptcy.
