Bitcoin sell-off continued on May 24 after a tumultuous week for cryptocurrencies that were hurt in part by China’s crackdown on mining and trading as part of efforts to prevent speculative and financial risks.
At the time of writing this article, bitcoin, the world's biggest and best-known cryptocurrency, has slipped to $31,179 in the last 24 hours. The 24 -hour high remained at $37,733. The digital currency had touched an all-time high of $64,829 on April 14.
On May 16, 2021, the global cryptocurrency market had a market capitalization of around $2.2 trillion. On May 23 , after seven days, it stands at around $1 trillion. The market is in red, with all major cryptocurrencies trading at levels lower than their earlier prices.
As of 8.40 am on May 24, these are the prices of the 10 largest cryptocurrencies (data from coinmarketcap.com):
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