It’s bad news again for Bitcoin and other cryptocurrencies as they take yet another tumble
This comes as one of the world’s biggest lenders of crypto has paused all withdrawals from its platform as the market meltdown continues apace.
The market conditions have been so extreme that the Celsius Network is temporarily halting all withdrawals, crypto swaps and transfers between accounts.
The whole market in feeling the pinch, total capitalization of all cryptocurrencies dropped below $1 trillion on Monday morning.
The plunge of more than 12 per cent over the last day amid a wider market rout has taken the total market cap of all cryptocurrencies to levels not seen since February last year.
That’s a drop of around 200 per cent from its all-time high of approximately $3 trillion last November.
The crypto market has been tumbling since the middle of the last week, when fears of rising inflation drove both the stock and crypto markets down.
