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Crypto market or kangaroo market: Should you buy the current dips?
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economictimes.indiatimes.comcryptocurrency bill in India, the crypto market has witnessed a sharp decline. Major tokens have taken a big blow in the last few weeks.
Behemoths like Bitcoin and Ethereum have retreated as much as a third from their peaks, scaled a month ago. Altcoins have shown a sharper fall.
Other major tokens such as Solana, Shiba Inu, Dogecoin, Terra and Polkadot have lost up to 40 per cent of their value in the last one month. Majority of them have been laggards for the last one week, taking double-digit cuts.
According to Coinmarketcap, the impact of the recent fall has dragged down the market capitalisation of virtual tokens by about 35 per cent. It was hovering around $2.1 trillion on Tuesday.
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