In cryptocurrencies, Bitcoin prices today slipped over 4% to $42,421. The world’s largest cryptocurrency by market capitalization is up 45% this year (year-to-date), and much below its record of near $65,000 it had hit in April.
Ether, the coin linked to ethereum blockchain and the second largest crypto, also plunged as it was down nearly 7% to $2,956.8. Cardano prices skid 4% to $2.16 whereas dogecoin tumbled 3% to $0.20. The performance of other digital tokens including XRP, Litecoin, Stellar, Solana also declined over the last 24 hours.
Cryptocurrency investment products and funds posted inflows for a sixth consecutive week as of September 24, data from digital asset manager CoinShares. Inflows to the sector hit $95 million last week, led by investments in bitcoin of $50.2 million.
Over the last six weeks, crypto inflows amounted to $320 million. For 2021, inflows were $6 billion.
Last week, China’s regulators intensified a crackdown on cryptocurrencies with a blanket ban on all crypto transactions and mining, hitting bitcoin and other major coins and pressuring crypto- and blockchain-related stocks.
(With inputs from agencies)
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