RATE Group | Even 2019’s Strongest Cryptocurrency is Unable to Escape the Bear Market
72376
post-template-default,single,single-post,postid-72376,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Even 2019’s Strongest Cryptocurrency is Unable to Escape the Bear Market

17 Dec Even 2019’s Strongest Cryptocurrency is Unable to Escape the Bear Market

Posted at 16:42h in Cryptocurrency News by

[ad_1]

Binance Coin (BNB), the eighth-largest cryptocurrency by market capitalization, opened on Tuesday in a severely negative area as a string of poor fundamentals scared investors away.

BNB plunged by 5.78 percent, or $0.77, to trade at $12.65. The latest downside move came as a part of an extended bearish correction seen across the entire cryptocurrency market. Like BNB, top coins including Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP), too suffered intraday losses.

On the whole, the cryptocurrency market had erased approx $16bn off its capitalization from Monday until 1523 UTC today.

cryptocurrency market cap

The entire cryptocurrency market had plunged by 8 percent from Monday | Source: TradingView.com, CoinMarketCap.com

BNB Fundamentals Turn More Bearish

The rapid decline in the BNB price also came two weeks before the enforcement of the European Union’s Anti-Money Laundering Directive (5AMLD).

In retrospective, 5AMLD requires Europe-based cryptocurrency exchanges to register with the local authorities. It…

[ad_2]

Source link

Tags:
, , , , , ,