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The cryptocurrency news for Friday includes the market taking a hit today and it all has to do with the downfall of some of the best cryptos.
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The prices of major cryptocurrencies are dropping today and it looks like this is driving other cryptos as well. For example, Bitcoin (CCC:BTC-USD) has fallen almost 6.6% in a 24-hour period at the time of writing. Ethereum (CCC:ETH-USD) is also down almost 7.8% in a 24-hour period around noon Friday.
When the major players in the crypto space see their prices drop, it’s normal for other digital assets to experience a drop as well. It also doesn’t help that other cryptocurrency news hasn’t been kind to the market.
For example, Mark Cuban tried to get into the DeFi business with IRON Titanium Token (CCC:TITAN-USD). Unfortunately, that backfired and the crypto price fell massively from its $ 65 price point to next to nothing.
While TITAN isn’t exactly a common name in the crypto game, this rapid fall hasn’t helped the market. There is no doubt that seeing so much value lost in such a short time must have rocked some altcoin investors. That alone would be enough to hurt smaller cryptos, but BTC and ETG also fell today.
Overall, cryptocurrency traders only face bad news today. That’s enough to drive the price of crypto down for now, but it’s probably not enough to keep it going for the long term.
Of course, there is a lot of other crypto news that investors should be aware of today.
InvestorPlace.com offers extensive market coverage with daily market stories. Some examples of today’s crypto news include the latest about Hive (OTCMKTS:HVBTF), Shiba inu (CCC:SHIB-USD), and Cardano (CCC:ADA-USD). You can learn all about these topics at the following links!
More cryptocurrency news for Friday
At the time of publication, William White had (directly or indirectly) no position in any of the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to the InvestorPlace.com publishing guidelines.
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