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Deep red for cryptocurrencies / Bitcoin and Ethereum lose almost 20%

2022-11-10 11:28:00, Ekonomi CNA

Deep red for cryptocurrencies / Bitcoin and Ethereum lose almost 20%

Today's edition of Il Sole 24 Hours gives a lot of space to the cryptocurrency market, which today is registering sharp drops that affect, in the case of Ethereum, almost 20%.

According to the newspaper Confindustria, this crypto-earthquake was caused by the statements of the CEO of Binance on FTX, which he reached out to after the last exchange spoke of a liquidity crisis. Initially, the market reaction had been positive and apparently crypto-investors had positively welcomed the possible acquisition of FTX by Binance. However, in the following hours the situation turned upside down.

At the time of this writing, Bitcoin is trading at $17,777.52, down 10% from 24 hours ago and at multi-week lows. Similar situation for Ethereum, which slides to $1,218.46, 18.20% less than yesterday: in the last hour this last token has lost 4.51%.

Other less important cryptocurrencies are also falling: BNB, the Binance token that is directly interested in the acquisition, has lost 10.57% and is now trading at $295.93, while XRP leaves 16.36% on the ground at $0.3674. Dogecoin also falls, down 20% to $0.0816.

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