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Cryptocurrency

27 Apr 2022

Crypto Prices Plummet within the Last 24 Hours amid Fast-Approaching Month-End

The Index today

Major cryptocurrencies have taken a hit during the past 24 hours as the end of the month approaches, reported CoinQuora.

As per CoinMarketCap, the prices of the top 10 cryptocurrencies have plummeted significantly with certain stablecoins dropping lightly. Bitcoin, the world’s largest cryptocurrency, plunged by 5.29% to $38,422 as of 2:30 am ET. This comes after the digital currency edged lower to -6.99% over the course of the past week. Bitcoin is followed by Ethereum, which edged lower by 5.21% during the last 24 hours. Much like Bitcoin, Ethereum has also suffered a weekly decline.

However, Dogecoin has surpassed both the cryptocurrencies to sustain a marked fall by 9.71%. This comes after the excitement surrounding Elon Musk’s purchase of Twitter Inc. for $44 billion continues to die down.

As the month draws to a close, users have been trading in their crypto to pay for their expenses which is the major reason behind the price drop in prominent digital currencies, reported CoinQuora.

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