Ethereum , the second largest cryptocurrency by market cap, was down almost 7% in the last 24 hours, to trade at a low of $1,761, as of the time of writing.
In the past 24 hours over 74,592 cryptocurrency traders were liquidated, with the total liquidations coming in at $218.63 million, as of the time of writing. However, amid the bearish collapse of all blue-chip cryptocurrencies, Cardano managed to stay in the green, with a modest rise of 2.4% in the last 24 hours. Cardano is now trading at $0.58.
Speaking to Reuters chief investment officer of Arizona-based IDX Digital Assets Ben McMillan said:"It's largely institutional, and to a degree retail investors, recognising that the pain is already endured, and we're closer to the bottom than we are to the top."If you're getting into crypto at these levels, a little near-term volatility could be worth a long-term payoff.
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