New COVID-19 Variant Shakes the Crypto Market

The news about the Omicron variant made investors turn to safer options, such as bonds, the yen, and the dollar.

The Dip

On Friday, Bitcoin experienced a 7.92% dip. This was due to the news of a new coronavirus variant. which led to investors dumping riskier assets.

Еther also suffered from the news. It went down by 9.34%. 

As a result, the smaller tokens saw a drop, too.

For example, Dogecoin is not having the best of weeks. It is down by 0.91 for the past 24 and is now valued at $0.21. It is still, however, in the top 10 list in terms of market cap.

Shiba Inu also had a bad period. It dropped to the 12th spot in the market cap list. But in the past 24 hours, it saw a rise of 3.97 percent.

Most Cryptocurrencies Stabilize

Thankfully, most of the cryptocurrencies managed to stabilize. According to CoinMarketCap, Bitcoin managed to rise by 5.5% in the past 24 hours. As a whole, it has been a volatile month for the currency, as it managed to dip by 7.3% for the past 29 days.

Global crypto exchanges show that Ether went up by 6.85% in the past 24 hours. The Ethereum cryptocurrency also has a turbulent month – it saw a 7.3% dip, but it also experienced an all-time high of  $4,870.

Sources

ABOUT AUTHOR

Devoted my whole life to words - reading, writing and trying to be original on social media. Got certified in digital marketing - still not cool enough to be an influencer. Finished a master’s degree focused in Literature, Publishing, Mass Media. Hobbies include traveling, reading and hoping that yoga will be the thing to finally teach me some patience. Would like to take over the world at some point, but that’s an optional dream. Maybe modern tech can help me do that?

Latest from Teodora

What Is SEO Writing Employee Theft Statistics That You Don’t Want to Miss in 2021 15 Disturbing Workplace Violence Statistics for 2021 White-Collar Crime Statistics That You May Not Know About in 2021

Leave a Reply

Your email address will not be published. Required fields are marked *