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Crypto Market Loses $250 Billion as Evergrande Fears Mount

From blockworks.co

Cryptocurrencies dipped lower Monday in a broad sell-off many analysts attribute to growing concerns over China Evergrande Group’s debt crisis and contagion fears. Cryptocurrency’s market capitalization fell below $1.9 trillion Monday morning, according to data from CoinMarketCap. Following a relatively positive weekend for digital assets, bitcoin fell below $45,000 and Ethereum has lost about 9% over the past 24 hours. “This weekend we saw a couple of the alternative layer-ones hit new all-time highs, specifically Avalanche and Cosmos, I do think that there was a fair bit of profit-taking, at least that’s kind of ... (full story)

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  • Category: Fundamental Analysis