Ethereum fell by more than 12% per day

The main altcoin continued its decline — in just 24 hours, ethereum fell by 12.23%, losing the key support level of $ 1500. At the time of writing, ETH is trading at $ 1302. In general, the entire cryptocurrency market lost 7.09% of its capitalization over the past day. This figure currently stands at $ 907 billion.

The decline in digital assets was influenced by the news of the FTT token of the well-known cryptocurrency exchange FTX (the exchange is likely to be bought out by Binance — yesterday the parties reached a preliminary agreement on this issue).

The flagship cryptocurrency (BTC) has lost its support level of $ 19,000. Currently, BTC is trading at $ 18,415, having lost 7.15% of its value over the past 24 hours.

Among the top 10 cryptocurrencies, the Dogecoin meme token fell the most (-12.80%), at the time of writing, it is trading at $ 0.089. In total, over the past 7 days, DOGE has fallen by 36.15%.

As for the FTX exchange’s native token, FTX Token (FTT), its quotes fell by 72.28% over the day. At the time of writing, FTT is trading at $ 4.99. It is worth noting that FTX has lost 93% of its stablecoin reserves in a year. In addition, the platform’s balance in ethereum decreased from 400,000 to 108,000 ETH. Apparently, to save the platform and preserve its customers' funds, Чанпен Чжао" href="https://noworries.media/biography/chanpen-chzhao/" data-bio-id="3681">Changpeng Zhao decided to acquire FTX. Otherwise, the exchange could have become insolvent.