The cryptocurrency market, which had been showing signs of stability, crashed on Friday. In 24 hours, the crypto market cap fell by more than 5%. Meanwhile, several cryptocurrencies, including Bitcoin and Ethereum, slid over 6%. Investors lost ₹15.62 lakh crore in just 24 hours. Around 10:30 AM, the crypto market cap was trading at $2.82 trillion, down 5.42%.
The decline affected all major cryptocurrencies. Bitcoin was trading at around $82,835, down nearly 6%, marking a drop of over 7% in the past week. Meanwhile, Ethereum fell more than 6% in the last 24 hours, trading at approximately $2,740. Other cryptocurrencies, including Binance Coin, Ripple, and Solana, also saw declines of over 6% in the same period.
Canton Cryptocurrency Coin Witnesses a Surge
The recent major crash in the cryptocurrency market did not affect Canton (Canton) crypto coin. In fact, it gained momentum, rising nearly 6% in the past 24 hours to trade at $0.1722. Over the past week, it has surged more than 20%, while its one-month return stands at around 16%.
Drop in the Fear and Greed Index
The cryptocurrency market has not seen any major recovery for a long time, creating an atmosphere of fear among investors. According to CoinMarketCap, the Fear and Greed Index was 38 on Thursday, which fell to 28 on Friday. This indicates that people are now becoming cautious about investing in crypto. Even those who are already invested have reduced their investments and are focusing more on withdrawals.
