Crypto Market Value Slips Below $1 Trillion

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On Monday, the valuation of the crypto market dipped below $1 trillion to $927 billion. Bitcoin, the most popular cryptocurrency, was down more than 10% on the day, hitting an 18-month low.

The global cryptocurrency market reached in November 2021 at about $3 trillion, but it has struggled so far this year. In the previous two months, it has lost $1 trillion in value as investors fled riskier assets in the face of rising prices and fears that central bank interest rate hikes could stifle growth.

Bitcoin and Ether are actively taking a beating in the ring as inflation shows to be a more difficult opponent to beat than imagined.

The UNFCCC, in collaboration with climate change entrepreneurs and Cointelegraph, discussed the importance of new technologies like blockchain in addressing global concerns like climate change.

The editor-in-chief of Cointelegraph took the stage to learn about the numerous blockchain initiatives that are actively combating climate change.

The proceeds from the sale of the clean NFT will go toward the United Nations’ Sustainable Development Goals initiative, which focuses on youth. The finalists’ digital arts will be displayed as clean nonfungible tokens (NFTs) across several UN climate change efforts as part of the campaign.

The remaining 50% will go toward non-party stakeholders’ technical and institutional foundations.

Dell’s edge solutions team has announced the addition of Iota Foundation, ClimateCHECK, and BioE to its team of developers working on a solution based on Dell’s Data Confidence Fabric (DCF) and Project Alvarium efforts.

Celsius Network, a major U.S. cryptocurrency lending company, stopped withdrawals on Monday due to harsh market conditions, the latest hint of pressure on the sector from collapsing crypto markets.

Celsius Network, a major player in crypto lending, provides consumers with interest-bearing products in exchange for depositing their cryptocurrencies with the company and then lends out those cryptocurrencies for a profit.

Withdrawals and transfers between accounts have been halted by the company in order to stabilize cash flow and processes while making efforts to maintain and protect assets.

The Celsius decision puts the focus on the long-term viability of crypto lending firms.

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