Bitcoin and cryptocurrencies have crashed this week, with around $1.5 trillion wiped from the combined cryptocurrency market price since November.
The bitcoin price has dropped under $35,000 per bitcoin this week with ethereum and other major cryptocurrencies also falling sharply. The ethereum price has crashed to around $2,400, down from almost $5,000 late last year—with JPMorgan issuing a serious ethereum price warning.
Now, as bitcoin, ethereum and some other top ten cryptocurrencies continue to struggle, ethereum rivals BNB and solana, Ripple’s XRP, stablecoin network Terra’s luna and the meme-based dogecoin and shiba inu have rallied, each adding between 2% and 7% over the last 24 hours.
Sign up now for the free CryptoCodex—A daily newsletter for the crypto-curious. Helping you understand the world of bitcoin and crypto, every weekday
The bitcoin price has crashed 50% from its all-time high of almost $70,000 per bitcoin set in … [+]
SOPA Images/LightRocket via Getty Images
The major crypto market is being led higher by Terra’s luna, up 5% on this time yesterday. Luna is one of the best performing cryptocurrencies over the last year, adding a staggering 7,500% to its price since January 2021.
Meanwhile, dogecoin, a bitcoin rival backed by Tesla’s Elon Musk, has added almost 4% and climbed back into the crypto top ten, as measured by price data site CoinMarketCap. Shiba inu, a doge-based rival memecoin, has also jumped since this week’s crypto crash, adding over 7%. Further down the crypto market charts,…
![Anticipation for Ethereum [ETH] 2.0 rises as metric reaches all-time high](https://crypto.newswireservice.net/wp-content/uploads/2023/01/ethereum-wale-1000x600-350x250.jpg)
