Bitcoin News

BNB and Dogecoin Are The Top Two Losses Among The Top 10 Cryptocurrencies While Bitcoin And Ether Decline

The top 10 cryptocurrencies by market capitalization lost ground on Friday evening trading in Asia, with Dogecoin and BNB leading the decline. Bitcoin dropped to below the US$20,000 support level.

Bitcoin was down 1.39% over the previous 24 hours to trade at US$19,930, while Ether was down 0.81% to US$1,355 according to data from CoinMarketCap.

After developers “determined a potential exploit,” the BNB blockchain, which hosts the token, was “suspended,” according to the Binance token’s Twitter account. Later, the account added that the BNB chain was “running ok”.

Following news on Wednesday that Elon Musk, a fervent admirer and former advisor to the memecoin’s developers, would be moving forward with his acquisition of Twitter, Dogecoin fell 3.26% to US$0.06324 but had gained 3.68% over the previous seven days.

Solana dropped 1.93% to US$33.32 and XRP lost 1.03% to US$0.4896. Cardano lost 1.23% of its value to trade at $0.4274.

Following overnight losses on Wall Street, Asian equity markets declined. The monthly job report from the U.S. Bureau of Labor Statistics is preceded by these shaky markets. 

According to a Dow Jones survey, it is anticipated to report a 3.7% unemployment rate and the addition of 275,000 new jobs in September, down from 315,000 in August. 

This number would indicate a slowdown in the economy, but it isn’t thought to be significant enough to change the U.S. Federal Reserve’s plan to raise interest rates to combat inflation.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.