After the first boom took place a few years ago, everyone has been looking to ride this second wave of massive and steep rises in the cryptocurrency market. During the first boom, most people only knew about Bitcoin (BTC) but today, some of the top cryptocurrency exchange platforms like WazirX trade in more than 7,000 crypto coins daily!
The last couple of weeks has seen yet another massive surge in some of these digital coins, with some even seeing as much as 3000% gains in the last 10 days and more. Dogecoin has been one such crypto-currency which has seen whopping gains but this Sunday, 18 April 2021, we saw a great fall in most coins across the world.
Dip in crypto market
This Sunday, cryptocurrency liquidations across the world hit a record $10 billion. The overnight crash was triggered by countless rumours of there being a crackdown on crypto-currency in USA, while electricity blackouts in Xinjiang province in China also resulted in a Bitcoin hash rate decline of as much as 50%.
SEE ALSO: List of the top sports betting websites
Prior to this crash, the market market capitalisation in cryptocurrency including Bitcoin was as much as $2.2 trillion but after this, it’s fallen 14% by a massive $310 billion. However, it quickly bounced back to around $2.1 trillion which meant a total of $10 billion fell on Sunday. This was all due to liquidation because of investor fears which led to the biggest cryptocurrency liquidation of 2021 so far!
The market capital of crypto-currency took a big hit but for the smart investor, that means nothing but a new low and a better entry point. If you are one of them, sign-up to WazirX for cryptocurrency trading right away. Similarly, for all updates from this global digital currency market, you can keep coming back and stay tuned to ReadScoops.com…
Register on WazirX and start trading in cryptocurrency today
