Terra, Dogecoin, Cardano Log Double-Digit Losses as Ethereum Slips Below $3,000

Alex Dovbnya

The cryptocurrency market is in the middle of a major correction, with top altcoins posting double-digit losses

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Mon, 11/04/2022 - 19:59

Terra, Dogecoin, Cardano Log Double-Digit Losses as Ethereum Slips Below $3,000

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The cryptocurrency market is in the middle of yet another major sell-off. Bitcoin, the largest cryptocurrency, has plunged below the $40,000 level for the first time since March 16.

Ethereum, the second-largest cryptocurrency, is currently trading below the $3,000 level on the Coinbase exchange.

All of the top 100 biggest cryptocurrencies are currently in the red. Cardano (ADA), Terra (LUNA), Avalance (AVAX), and Dogecoin (DOGE) have all recorded double-digit losses.

The total cryptocurrency market cap currently stands at $1.8 trillion, dropping significantly as the result of the ongoing sell-off.

Terra Buys Another $176 Million in Bitcoin

The U.S. Federal Reserve's aggressive monetary tightening is seen as the key bearish catalyst for the correction.

#Terra News #Avalanche News #Cardano News #Ethereum News

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.