Bitcoin drops to $53,721 as cryptos tank

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The cryptocurrency market plunged with the market capitalisation shedding 7.7 percent to reach $2.55 trillion as of 1210 hours GMT.

The largest cryptocurrency Bitcoin tanked by 7.59 percent to reach $53,721. With this decrease in price, the market capitalisation of the biggest cryptocurrency has reached 1.01 trillion.

Ether, the world’s second-largest cryptocurrency by market capitalisation, plunged by 9.7 percent to reach $3,968. With this decrease in price, the market capitalisation of ETH has reached $466.2 billion.

Similarly, XRP price decreased by 10.23 percent to reach $0.934. The market capitalisation of XRP stands at $93.3 billion after this decrease.—APP

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