The decline affects virtually all cryptocurrencies, with the vast majority losing at least 10% of its value compared to Thursday.
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For example, the second best-known cryptocurrency, ethereum, wrote off 12.24%, according to the CoinDesk server. It was still trading at $ 3271 (CZK 70,220) on Thursday, but on Friday it was already at $ 2,734 (CZK 58,690).
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For some cryptocurrencies, the drop is even higher. For example, Solana wrote off 15.35%, Chainlink 15.28%, Litecoin 13.48%, Algorand 16.66%, Decentraland 13.58% and Zcash 15.46%. Although the decline in many other cryptocurrencies is less than 10%, this still obviously negatively affects the entire cryptocurrency market.
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Virtually the entire cryptocurrency market has fallen.
Photo: repro CoinDesk
Response to the fall of stock markets
The CoinDesk server pointed out that Friday’s fall in cryptocurrencies came after Thursday’s losses on stock markets in the United States, where shares of technology companies weakened in particular. Their Nasdaq Composite Index weakened by almost five percent this week.
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The wider market did not bring too optimistic news, for example, the S&P 500 index recorded losses for the third week in a row. Investors usually react to similar declines by selling risky assets, which are also bitcoins and other cryptocurrencies due to high volatility.
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Bitcoin was still trading on $ 43,494 on Thursday afternoon, which corresponds to CZK 934,410. On Friday, it was only for $ 38,287 (CZK 822,610). The last time bitcoin was so low was last August.
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