The global market of cryptocurrency dipped below US$1 trillion to $962 billion for the first time yesterday since 2020. Bitcoin fell below US$23,000, hitting its lowest point since December 2020. Over the weekend, Ethereum collapsed by 24%, falling to its lowest level in more than 14 months. Meanwhile, crypto lending company Celsius froze withdrawals for its customers yesterday, claiming it lacked the funds to honour withdrawal requests. What’s going on? Overall, the crypto market has lost more than 2 thirds of its value since peaking on November 8, 2021, falling from $3 trillion, to US$962 billion yesterday. And it’s still […]
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