The total market value of encryption fell below US $1 trillion after BUSD suspended casting
It is reported that the total market value of cryptocurrency fell below US $1 trillion after Paxos, the issuer of the US dollar stable currency, announced the suspension of the casting of BUSD on Monday. This is also the first time that the index has fallen in nearly three weeks. At present, it has rebounded slightly to about US $1.05 trillion. In addition, analysts believe that the upcoming U.S. inflation data and the latest regulatory actions may also be the main reasons for this decline. Christopher Newhouse, a cryptooption trader at GSR, an investment company, said that with the upcoming release of the U.S. consumer price index (CPI) in January, the expectations of the cryptooption market look less optimistic than last month. In the stock market, the share price of Coinbase fell 1.2% on Monday, and the NASDAQ rose about 1.5%. In the past five trading days, the share price of Coinbase fell by about 24%. (Yahoo Finance)
Interpretation of this information:
The total market value of cryptocurrency has fallen below US $1 trillion after Paxos announced the suspension of casting BUSD. This is the first time it has fallen in nearly three weeks but has rebounded slightly to about US $1.05 trillion. Analysts attribute the decline to the upcoming release of U.S. CPI inflation data and recent regulatory actions. The share price of Coinbase fell 1.2% on Monday, while NASDAQ rose about 1.5%, and Coinbase’s share price has fallen by about 24% in the past five trading days.
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