Cryptocurrencies Lose Despite Gains In Global Markets; Bitcoin Falls 3.6%, Ethereum Slums 5.7%

Major cryptocurrencies extended losses on Tuesday, as the global crypto market cap dropped 2.9 percent to $1.15 trillion from the previous day.

Bitcoin — the world’s largest and most popular virtual currency — fell 3.6 percent to $23,951.9. Its market value stood at $459.2 billion. The trade volume was at almost $33 billion. Bitcoin has climbed 0.6 percent in the last seven days.

Ethererum or Ether — the second largest virtual currency — was 5.7 percent down at $1,869.4 with a market capitalisation of $228.6 billion. The trade volume of Ethereum was $19.9 in the last 24 hours. The crypto token has risen 5.3 percent in last seven days.

Edul Patel, CEO and co-founder of Mudrex, said, “The immediate support level

Meme-based virtual currency Dogecoin, however, was 0.1 percent up with a trading volume of $883.8 million. Shiba Inu was trading 3.8 percent lower at $0.000016 while Solana was 7.2 percent down at $43.1 billion.

The Indian financial market opened in green on Tuesday mirroring largely positive cues across global markets.