Bitcoin drops to a 3-month low, Ether falls by 10% to a 2-month low, know what is the price now

New Delhi: Cryptocurrencies are seeing a big drop. Crypto prices hit a three-month low. The decline in crypto is happening because of the increasing trend of interest rates all over the world. At the same time, the US Federal Reserve may raise interest rates very soon. In effect, the central banks of other countries will also raise rates. This fear has stunned crypto investors. Therefore, there is a big drop in the price of cryptocurrencies. Bitcoin was trading at $18,830, down 6% on Monday. Also, the global crypto market cap has fallen by 4% in the last 24 hours to below $1 trillion. On Monday, the total global crypto market cap was trading at $974 billion, according to CoinGecko.

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Ether also seen declining
Apart from bitcoin, Ether of the Ethereum blockchain, the second largest and popular cryptocurrency, also saw a strong decline on Monday. Ether was trading at $1,370, down 10% on Monday. The price of cryptocurrencies has been seen trading down in recent days due to major software upgrades to Ethereum. The biggest reason for the increase in the price of Ether in mid-June was due to the upgrade of the Ethereum blockchain.

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How many people have cryptocurrency
According to a United Nations report, 7.3 percent of the total population in India had cryptocurrency in 2021. The use of cryptocurrencies has increased rapidly around the world during the Corona period. Ukrainians hold the most cryptocurrencies as a proportion of the world’s population. There 12.7 percent of the people have cryptocurrency. 11.9 percent in Russia, 10.3 percent in Venezuela, 9.4 percent in Singapore, 8.5 percent in Kenya and 8.3 percent in the US hold cryptocurrencies.

Source: navbharattimes.indiatimes.com

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