Crypto plunge wipes out US$260 billion off the value of market

Business | 23 Apr 2021 2:27 pm

 Bitcoin and other digital coins plunged on Friday wiping over US$260 billion off the value of the cryptocurrency market, CNBC reports.

At around 14:06 p.m. Beijing time, bitcoin was down by nearly 10 percent in the last 24 hours at US$49,281.40, according to CoinDesk data.

Ethereum fell to US$2,202.05, down more than 11 percet.

XRP, the fifth-biggest cryptocurrency plunged over 22%, according to price tracking site CoinMarketCap.

This wiped out around US$260 billion of value from the entire cryptocurrency market.

It was unclear what triggered the sell-off though cryptocurrencies are known for their wild price swings.



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