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Crypto assets fell sharply at the start of this week after U.S. recession fears rapidly intensified.
Fears that the United States could fall into recession have seen investors move away from risky assets, sparking a wave of selling in cryptocurrencies, which are considered the riskiest investment vehicle.
Today’s historic drop in Asian markets also added to the flight from risk assets. Both stock markets and cryptocurrency markets have fallen sharply since this morning.
Cryptocurrency market updates
As of 9:20 a.m., Bitcoin’s value fell 17% to $54,500. Ethereum, on the other hand, fell 23.5% to $2,002,226.
Binance Coin fell 20% in a day to $419, Solana fell 19% to $116.5, Ripple fell 19% to $0.55, Dogecoin fell 20% to $0.08, and Cardano (ADA) fell to $0, with a loss of 20%. 28 USD.
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