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Cardano Takes Lead as Bitcoin Falls Below $27,000

Cardano Bitcoin
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Bitcoin’s value declined by 1.36% in a 24-hour period, reaching $26,805. Similarly, Ether experienced a slip of 0.82%, settling at $1,854.

Bitcoin’s value dropped below $27,000 during Thursday afternoon trading in Asia. Other major cryptocurrencies like Ether also experienced declines, but most of them showed gains for the week. Cardano was the biggest loser of the day.

On the positive side, Litecoin saw a daily increase of 3.42%, followed by Polygon with a rise of 0.08%. According to CoinMarketCap data, Bitcoin decreased by 1.36% to $26,805 within a 24-hour period until 4 p.m. in Hong Kong. However, the world’s largest cryptocurrency still recorded a 2.62% strengthening over the week.

Ether, the second-largest cryptocurrency, decreased by 0.82% in the span of 24 hours, reaching $1,854. However, it recorded a weekly gain of 4.3%. Among the top 10 non-stablecoin cryptocurrencies, Cardano’s ADA token experienced the biggest decline, dropping by 3.13% to $0.3641 in 24 hours.

Nonetheless, it achieved a weekly gain of 2.05%. On the other hand, Litecoin’s LTC token saw an increase of 3.42% to $92.41, with a weekly gain of 9.89%. Polygon’s Matic token had a slight increase of 0.08% to $0.89, after a 1.44% gain over the past seven days.

Also Read This : Crypto​.com Joins Licensed Payment Institutions in Singapore

The global market value of cryptocurrencies decreased by 0.92% to reach $1.13 trillion, and the total trading volume in the crypto market dropped by 8.82% to $31.77 billion within the last 24 hours. In the meantime, Hong Kong has shown positive support for the crypto industry by aiming to become a prominent global hub for cryptocurrencies. On June 1, Hong Kong introduced a new licensing system.

Digital asset platform OSL has announced its application for an upgrade to its existing license from the Securities and Futures Commission (SFC) of Hong Kong. This upgrade will allow OSL to facilitate retail trading activities.

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Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.

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  • Asad

    Asad is a dynamic and talented cryptocurrency content author who brings a wealth of knowledge and enthusiasm to every article. With a deep understanding of blockchain technology and a passion for digital assets, Asad's writing is both informative and engaging.

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