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Bitcoin near $40,000 as cryptocurrency market plunge

In the previous 24 hours, cryptocurrency markets have plummeted. According to CoinMarketCap data, the global market cap has dropped 2.87 % to $1.87 trillion as of 8:00 a.m. IST.

Bitcoin is currently priced at $40,033, down 3.32 %. Ethereum is now trading at $3,025, down 3.42 %.

In the last 24 hours, the USDT Tether stablecoin’s value has dropped by 0.01 %. The USDC stablecoin, on the other hand, decreased by 0.01 %.

The BNB token has lost 2.47 % of its value.

The sole top token that is on the rise is XRP Ripple. In the last 24 hours, the token has increased by 2.01%.

The ADA coin has been trending downwards by 4.11 %.

In the last 24 hours, Terra LUNA has lost 7.98% of its value.

Solana lost 5.42 % of its value. Avalanche has lost 4.86 % of its value.

According to recent research, despite adverse market patterns and volatility, 75% of Bitcoin holders are still profitable. This is mostly because 25% of investors added Bitcoin to their portfolio at or near the end of last year’s all-time high.

In addition, there has been some progress in the $625 million Axie Infinity hack. According to the US Treasury Department, North Korean hackers may have been involved in the crime.

In addition, Russian chambers of commerce are considering using Bitcoin to make payments to Africa. We’ll have to wait and see what happens.

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