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Panic as crypto market sinks

Panic as crypto market sinks

The prices of most Crypto coins have fallen tremendously and traders and holders of these coins are counting their losses. 

Recently, bitcoin has fallen to $25,401.29 on Thursday morning, this is the lowest it has ever gone in 16 months 

Ethereum, the second-largest crypto by market value, is now trading for $1,704.05 per coin. 

Other coins such as LUNA token, SOL, and ADA, Dogecoin have also suffered losses. Even the stable coins Tether has also fallen below $1. 

Investors are scared about the stability of the coins and are fleeing the crypto market. 

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“If we see this continue for multiple days, then we’ll start to get pretty concerned, pretty worried,” Marcus Sotiriou, a crypto analyst at a digital asset broker. global block said. “The implications are just so large. It’s just unknown.” 

Binance has however suspended deposits and withdrawals on Thursday morning.

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