Red Day For Bitcoin and Alts as Crypto Market Suffers
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$1.7 billion has been lost by investors to the crypto market following a sudden drop of currencies yesterday
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Flagship coin Bitcoin fell to $54,000 and Ethereum dropped below its $4,000 milestone
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The reason for the sudden dump is unknown, but it affected many major currencies
Crypto investors were left licking their wounds early the morning, following a sudden dump in the crypto market.
247,084 investors have seen $1.74 billion liquidated from their accounts.
The largest liquidation ($8.5 million) happened on Huobi-DOT.
Flagship coin, Bitcoin lost as much as $3000, as it dropped from $58,000 to $55,000.
BTC currently has a trading volume of $74 billion, although it is down 4.59% for the day.
Ethereum was also in on the losses, dropping below its landmark of $4000 to $3,888.
At the time of this report, Ethereum was down by 3.55%, with a market cap of $459 billion.
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Other coins to have suffered losses include Binance Coin, ADA, and XRP, with 3.97%, 7%, and 10.9% losses respectively.
The reason for this sudden dump is unknown but it should be noted that the crypto market is extremely volatile.
