Altcoins News
By Bruce Buterin
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Bitcoin got hammered today. The world's biggest cryptocurrency dropped below $63,000 for the first time since that nasty February 6 crash, and things aren't looking pretty for…
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The selloff didn't happen overnight - Bitcoin's been struggling since it got rejected above $70,000 last week.
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Bitcoin's market cap now sits at roughly $1.260 trillion. Its dominance over other cryptocurrencies fell below 56%.
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Ethereum's having its own problems, dropping 5% to just above $1,800. The second-largest cryptocurrency can't seem to catch a break as selling pressure mounts across the board.
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But there's one bright spot in all the carnage.
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PIPPIN bucked the trend completely, surging to a new all-time high of $0.80 with an 11.5% gain on the day. Sometimes the market just doesn't make sense.
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The broader cryptocurrency market lost more than $150 billion in value since Sunday, bringing the total market cap down to $2.260 trillion.
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Institutional players are feeling the heat too. Grayscale Investments, which runs the massive Bitcoin Trust, saw its assets under management drop by nearly $3 billion compared to…
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Some investors are running for cover in stablecoins. Tether (USDT) and USD Coin (USDC) both saw trading volumes spike as traders moved their money into less volatile assets.
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Not everyone's panicking though. JPMorgan put out a report on February 24 saying Bitcoin's current price levels might actually attract new institutional buyers who see the dip as…
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Coinbase reported a surge in withdrawal requests on February 23, with users moving serious amounts of digital assets off the platform.
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MicroStrategy's still holding strong though. CEO Michael Saylor reaffirmed their commitment to Bitcoin during an investor call on February 22, saying the current market…
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The Chicago Mercantile Exchange saw Bitcoin futures trading volumes jump over the past week.
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BlockFi announced stricter collateral requirements for borrowers on February 23 to protect against further downside risk.
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The DeFi sector's seeing some interesting activity though. Aave reported its total value locked increased 7% over the past week to $15 billion as of February 24, as investors…
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