New Delhi: Major cryptocurrencies were bleeding on Monday thanks to a heavy influx of negative updates around the world. Investors became wary of another meltdown in the crypto cart.
Aside from stablecoins, eight of the top 10 cryptocurrencies were trading lower at 9:30 a.m. IST. Solana gave up as much as 12 percent, while Cardano and XRP each gave up over 8 percent.
Global crypto market capitalization rose up to 6 percent from last day to $ 2.02 trillion. However, the total crypto market volume grew up to 4 percent to $ 91.91 billion.
“The past 24 hours have been relatively quiet for the cryptocurrency market. As institutional investors become more active in the new week, we are likely to see more volatility. Crypto blue chips faced minor profit bookings over the weekend, ”said Edul Patel, CEO and co-founder of Mudrex.
Meanwhile, US officials are investigating possible insider trading and market manipulation at Binance, Bloomberg News reported, which may give the cryptocurrency exchange, which has become the target of regulatory scrutiny in many countries, a boost.