Cryptocurrencies bitcoin and ethereum are falling again

on October 7, 2022, the cryptocurrency market once again demonstrates a drop. Industry experts suggest that the collapse occurred against the backdrop of the Federal Reserve’s (US Federal Reserve) announcement of unemployment rates among Americans. The agency noted that a prolonged regression in the labor market will have a positive impact on the cryptocurrency industry. Following these announcements, the global market capitalization fell to $ 996.21 billion, losing about 1.3% per day. The leading digital assets Bitcoin (BTC) and Ethereum (ETH) also demonstrate a drop in the exchange rate.

Thus, the flagship cryptocurrency has fallen by 1.8% over the past 24 hours. The bitcoin rate is currently $ 19,879, and the total supply of digital coins circulating on the market is $ 381.31 billion. Over the past day, traders have secured $ 29.86 billion worth of transactions.

The leading altcoin also suffered price losses. The ETH rate fell by 1.21% over the past day. The virtual asset is trading at $ 1350.7, and the total supply of coins is $ 165.74 billion. Market participants secured a transaction volume of $ 10.47 billion.

Binance Coin (BNB) also showed a serious drop. The main digital currency of the world’s most popular exchange fell by 3.78% and is trading at $ 283.78. The market capitalization amounted to $ 45.82 billion.

Last night it became known about a large-scale exploit that took place in the BNB Smart Chain network. The estimated amount of losses is between $ 100 and $ 800 million. It is known that the attackers' cryptocurrency wallet contains $ 1.04 million BNB, $ 389 million venusBNB, and $ 28.8 million BUSD. The attackers used an exploit in the BSC Token Hub cross-chain bridge. As a result, hackers moved about $ 89 million to other blockchains: 58% to Ethereum, about 33% to Fantom, and about 4.5% to Arbitrum.

Finally, the meme cryptocurrency Dogecoin (DOGE) has lost 3.51% in value over the past 24 hours. The virtual asset’s quotes fell to $ 0.063, and the total supply of coins on the market amounted to $ 8.38 billion.