Bitcoin's price has dropped below $40,000 for the first time since February 9.
The world's largest cryptocurrency by market capitalization is now changing hands around $39,600 on Coinbase Pro.
It's the lowest point in 14 weeks, which is also back to the same price level before Tesla announced its corporate treasure policy in holding bitcoin, according to data from CoinGecko.
Meanwhile, ether has slumped below $3,000 and is trading at $2,949 as of press time.
The overall crypto market plunge has continued over the past week and dropped further after news on Tuesday that three Chinese self-regulatory organizations had reiterated the country's 2017 stance on a crypto ban.
Data from Bybt shows that over $1 billion in crypto futures long positions were liquidated in the past 12 hours with half of them being long positions on bitcoin.
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Today the always-on demands of online markets have to be matched with the ability to access opportunities instantly and with no limits. Historically correspondent banks would move large sums of money for those needing to transfer funds while creating bottlenecks of unnecessary friction.
Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.
In this episode of The Scoop, StarkWare Co-Founders Uri Kolodny and Eli Ben-Sasson walk through StarkWare's recent fundraise and discuss how their firm is bringing affordable blockchain transactions to the masses.