Crypto Markets Bounce Back To Red, Volatility Still High
March 11: following a day of slight recovery, cryptocurrency market bounced back to the red, with the majority of assets listed on Coin360 having lost their value.
Bitcoin (BTC) has dropped to as low as $8,607 during the day. By press time it has recovered slightly, trading at around $9,224 with a 2.43% loss of value over the past 24 hours.
The total market capitalization of all cryptocurrencies has declined from yesterday’s high of around $390 bln to about $379 bln, experiencing an intraday low of $351 bln.
Ethereum (ETH) has lost 2.47% of its value in 24 hours and is trading at $717 at press time.
Earlier this week, on March 6, the South Korean government banned its officials from holding and trading cryptocurrency.
On March 8, the Japanese Financial Services Agency (FSA) has issued ‘Punishment Notices’ for 7 cryptocurrency exchanges and suspended two more after carrying out the inspections prompted by January’s Coincheck hack.