The price of Bitcoin, the biggest and most well-known cryptocurrency in the world, fell today, falling more than 1 percent to USD 22,955, after climbing above USD 24,000 on Wednesday for the first time in more than a month.
The current Bitcoin recovery has reduced its loss this year to roughly 50 percent. Similar to the stock market, bitcoin has been on upward so far this week as investors seem more confident in the US Federal Reserve's capacity to control decades-high inflation.
The second-largest cryptocurrency, Ether, which is connected to the Ethereum network, dropped more than 2 percent to USD 1,518. Shiba Inu declined more than 4 percent to USD 0.000011 while Dogecoin's price today was trading about 1 percent lower at USD 0.06.
As the values of XRP, Solana, BNB, Litecoin, Stellar, Chainlink, Tron, Apecoin, Avalanche, Polkadot, Polygon, Uniswap, and Tether have been falling over the past 24 hours, other cryptocurrencies' performance today has also decreased.
Despite falling more than 2 percent in the previous day to USD 1.08 trillion, the worldwide cryptocurrency market cap was back above USD 1 trillion Wednesday, according to CoinGecko.
As a series of defaults continue to plague the digital-assets business, Zipmex, a cryptocurrency exchange with operations in countries like Singapore and Thailand, announced it has stopped accepting withdrawals.
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