InvestorPlace – Stock Market News, Stock Advice & Trading Tips
Cryptocurrency news for Friday includes the market taking a beating today and it all has to do with some of the top cryptos falling.
Source: Yevhen Vitte/Shutterstock.com
Prices for major cryptocurrencies are down today and it looks like that’s dragging down other cryptos as well. For example, Bitcoin (CCC:BTC-USD) has fallen close to 6.6% over a 24-hour period as of this writing. Ethereum (CCC:ETH-USD) is also dipping close to 7.8% over a 24-hour period around noon Friday.
When major players in the crypto space see their prices fall, it’s normal for other digital assets to experience a decline as well. It also doesn’t help that other cryptocurrency news hasn’t been kind to the market.
For example, Mark Cuban tried to get in on the DeFi business with IRON Titanium Token (CCC:TITAN-USD). Unfortunately, it is backfired on him and the price of the crypto fell massively from its $65 price to next to nothing.
While TITAN isn’t exactly a common name in the crypto game, that rapid plummet didn’t help the market. There’s no doubt that seeing so much value lost in so little time had to rattle some investors in altcoins. That would be enough on its own to harm smaller cryptos, but then BTC and ETG took the fall today as well.
Overall, cryptocurrency traders are just dealing with bad news today. That’s enough to drop the price of crypto for now, but it’s likely not enough to keep it down in the long run.
Of course, there’s plenty of other crypto news that investors need to be aware of today.
InvestorPlace.com offers extensive coverage of the market with daily stories on the market. A few examples of today’s crypto news include the latest concerning Hive (OTCMKTS:HVBTF), Shiba Inu (CCC:SHIB-USD), and Cardano (CCC:ADA-USD). You can learn all about these topics at the following links!
More Cryptocurrency News for Friday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
The post Cryptocurrency News: Why Is the Crypto Market Down Today? appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.