
Did the era of the Dogecoin, the most famous cryptocurrency, come to its end, or it is just a calm before the storm? Let’s find out!
OnChainFX states that almost all key crypto assets have lost approximately 90% of their market value, steeply tumbling from their previous year’s maximums.
As a matter of fact, among the 15 leading crypto assets by circulating market cap, up to 11 of them have gone down by over 90% from their record maximums.
On Thursday, the number two crypto asset, Ripple’s XRP, was last seen at 0.34365, heading south by about 92% from its record maximum of $3.84 in January this year.
In addition to this, Ethereum managed to hit $104.1, decreasing by nearly 93% from its all-time maximum at $1,431.
Besides this, Bitcoin went down by approximately 81% since getting to the mind-blowing maximum of $20,000. Currently, the value of this digital coin accounts for $3,873.8.
Crypto assets have decreased drastically for recent weeks, following news of regulatory scrutiny as well as a hard fork in Bitcoin cash. All of this is considered to be key headwinds for the crypto world.
Earlier this week, is has been disclosed that members of the G20 made up their mind to work on international effort for the purpose of regulating crypto assets, which is in line with standards set by the Financial Action Task Force, an intergovernmental organization started in 1989.
The given move is considered to be an effort to tame tax evasion by crypto investors. By the way, crypto assets were included in the joint declaration of G20 members at the end of the summit.
Meanwhile, Thursday’s reports stated that Japan is all geared up towards urging crypto exchanges to disclose information on their users who have been suspected of tax evasion.
According to government sources, many individuals didn’t uncover their gains from crypto activieties and transfers.
Did the era of the Dogecoin, the most famous cryptocurrency, come to its end, or it is just a calm before the storm? Let’s find out!
The main digital coin erased all the gains done after Elon Musk's February announcement. What are we heading into?
Ethereum crossed $3000 recently and is aiming at $3500 already. Is it taking over Bitcoin's place?
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
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