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Bitcoin price fell to its lowest level in three weeks, with the world’s largest and most popular digital asset trading more than 1% lower at $16,764. According to CoinGecko data, the worldwide cryptocurrency market valuation stayed below $1 trillion today, falling more than 1% in the last 24 hours to $841 billion.
Ether, the second largest cryptocurrency and the token tied to the ethereum blockchain, was practically unchanged at $1,193. Meanwhile, dogecoin price today was trading more than 5% lower at $0.07 and Shiba Inu was down over 3% at $0.000008.
Other crypto values’ performance today was varied, with Binance USD, Avalanche, Tether, Terra, Solana, Polygon, Stellar, XRP, Cardano, Uniswap, and Polkadot prices trading lower over the last 24 hours while Litecoin, Chainlink, ApeCoin, and Tron prices moving higher.
After reaching record highs late last year, cryptocurrency has had a rough 2022, buffeted by everything from the Fed’s policy tightening to the implosion of the Terra/Luna ecosystem, hedge funds Three Arrows Capital, and exchange FTX.
The demise of FTX last month was the most surprising in a string of big industry player closures this year, including Celsius and Voyager, as well as prominent tokens terraUSD and Luna, which have rocked investor confidence and wiped out $1.5 trillion in cryptocurrency market capitalization.
