Home Ethereum Bitcoin and Ethereum Plunge on Coinbase Global Inc. Low Earnings, Crypto Markets Suffer $3 Billion Hit

Bitcoin and Ethereum Plunge on Coinbase Global Inc. Low Earnings, Crypto Markets Suffer $3 Billion Hit

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Crypto markets took a hit of US$3 billion on Wednesday as Bitcoin fell below US$23,000 while Ethereum fell 5.5% to US$1,680.

Among the hardest hit were the Cosmos blockchain’s ATOM coin, which saw its market cap now $3 billion, and Oasis Network, whose ROSE coin fell more than 10%. The Kusama, Helium and Dash networks were also among the biggest daily droppers.

Lending platform Nexo and iFinex’s LEO token were among the few daily risers, adding 4.4% and 3.8% respectively.

One of the hardest hit in the decentralized finance (DeFi) space was the decentralized stablecoin exchange Curve, which also had to contend with a $570,000 server hack. 1inch Network, Synthetix and Compound Finance also fell.

Total locked volume across the entire DeFi space is currently $66.78 billion, having declined by 2.7% in the past 24 hours.

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