On Monday, Bitcoin and Ethereum continued to fall. The largest crypto lender Celsius Network (USA) has suspended all operations – exchange, withdrawal of funds and transfers between accounts.
According to Reuters, Celsius Network attributed its decision to “extreme market conditions.” Amid the announcement of the crypto lender, the capitalization of cryptocurrencies fell below $1 trillion. This happened for the first time since January 2021 and caused the price of bitcoin to drop by 12% to an 18-month low of $23,300.
Ethereum, the second most popular cryptocurrency, has fallen 18% to its lowest level since January 2021 at $1,176. The agency writes:
“Crypto markets have weakened sharply over the past few weeks as rising interest rates and inflation spurred investors away from riskier assets in financial markets. Markets continued to sell off on Monday after U.S. inflation data on Friday showed the biggest price increase since 1981.”
As of Monday evening June 13, Bitcoin was trading at $23,106, Ethereum at $1,225.
Previously, our publication told what currency exchange Bitcointo use your earnings. This is a popular cryptocurrency that is used to make money on speculative transactions or long-term storage and brings good profits to its owners. But when the need arises to apply the income, the digital coin turns out to be practically useless. All that can be done with its help is to replenish the balance in individual bookmakers and other entertainment services. Therefore, it makes sense to exchange Bitcoin for a more functional means of payment.