Coin-Miners - Crypto Currency Tracker logo Coin-Miners - Crypto Currency Tracker logo

TipRanks 2022-06-23 04:44:08

COIN: Crypto Fatigue Could Hurt the Crypto Story, Says Analyst

Cryptocurrencies have been on a downslide recently, with Bitcoin (BTC) hovering near the $20,000 mark and having lost more than half of its value, down 57.6% year-to-date. Globally, the crypto market capitalization currently stands at $897.7 billion. This crypto meltdown has also impacted cryptocurrency exchange platforms like Coinbase Global (NASDAQ: COIN). Shares of Coinbase have tanked 79.3% this year and are currently trading just above the 52-week low. The crypto volatility also caused Coinbase to lay off around 1,100 employees recently, representing around 18% of its workforce. Moreover, this volatility also resulted in a decline in trading volumes to $309 billion in Q1 from a record $548 billion in Q4.

freebitcoin
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.