The crypto market is on a downward trend, an event that made the Binance CEO Changpeng Zhao (CZ) react in a tweet:
Changpeng Zhao also added that his statement in the tweet post is not financial advice. Traders and investors should continue to practice due diligence to prevent unexpected losses that cannot be recovered.
In the past few hours, the crypto market once again shocked investors not because of its bullish trend but because of its sudden decline. To be specific, the top 100 cryptocurrencies on CoinGecko experienced a -10% to -20% price plummet in the past 1 hour. Indeed, an event that could cause FUD among the global crypto investors.
In terms of market position, the crypto world has almost $2 trillion in market capitalization. Notably, the crypto space is standing strong and will not be taken down easily by sudden market falls. As such, traders and investors must not lose confidence when it comes to a sudden market drop. This is a normal occurrence in the crypto space.
Today, Bitcoin, the king of cryptocurrency, remains in the lead with a trading price of over $56k. Further, Ethereum follows with over $2200 trading price and Binance comes at $473 per crypto. These top 3 cryptocurrencies remain strong despite the recent market decline inside the crypto market. Truly, an outstanding performance in the crypto space.
This article was first published on coinquora.com
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Source: Cryptocurrency - investing.com
