Today, the price of Bitcoin fell below the $20,000 threshold in the cryptocurrency world. The biggest and most well-known cryptocurrency in the world, Bitcoin, lost more than 2 percent of its value and was trading at $19,847. According to CoinGecko, the market capitalization of all cryptocurrencies fell below $1 trillion today after falling more than 2% over the previous day to $942 billion.
However, Ether, the second-largest cryptocurrency and a token connected to the Ethereum network, fell more than 2% to $1,113. Shiba Inu gained more than a percent to $0.000010, while Dogecoin’s price was trading almost a percent higher at $0.06.
The performance of other cryptocurrencies today was varied, with XRP, Solana, BNB, Litecoin, Stellar, Chainlink, Tron, Uniswap, and Tether falling while Polygon, Apecoin, Avalanche, and Polkadot prices rose over the previous 24 hours.
The bankruptcy of so-called stablecoin TerraUSD, the suspension of withdrawals by major U.S. lender Celsius Network, and the liquidation of Singapore-based crypto hedge fund Three Arrows Capital are just a few of the recent disasters that have rocked the cryptocurrency sector.
Bitcoin exchange Due to the industry’s decreased trading volume as a result of the market slump, Bitstamp wants to levy a monthly “inactivity fee” for some customers. Starting on August 1, accounts with a balance of fewer than 200 euros that haven’t traded, deposited, withdrew, or staked assets in a year will be subject to monthly fees of 10 euros ($10.27).
In more news. Top cryptocurrency miner Core Scientific Inc. surrendered the majority of its Bitcoin holdings in June as the price of digital assets plunged, putting financial pressure on even the industry’s biggest players.
According to the company’s monthly statement, Core Scientific sold 7,202 mined coins for $167 million last month, causing a 79 percent decline in its balance sheet’s holdings of Bitcoin. According to Bloomberg, the Austin, Texas-based startup already has 1,959 coins.
