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The market downturn might be ascribed to a number of causes, including uncertainty in the US, recent layoffs at Binance, and a slowdown in China's gross domestic product growth. Bitcoin, Ethereum, and other cryptocurrencies fell lower on Tuesday. The market capitalization of all cryptocurrencies was $1.2 trillion, with a volume of around $35.1 billion during the previous day.
The biggest and most well-known virtual currency in the world, Bitcoin, decreased 0.4 percent to $30,136.9. It had a market value of $586.1 billion. The value of the trade was $13.2 billion.
Ethererum, also known as Ether, which is the second-largest virtual currency, decreased 0.8 percent to $1,909 and has a market value of $229.8 billion. In the previous day, $6.5 billion worth of Ethereum was traded.
Dogecoin, a cryptocurrency based on memes, decreased 0.1 percent on Tuesday. It was valued at $9.8 billion on the market. There were $461.3 million worth of transactions.
Solana lost 5.5 percent to $26.6 and now has a $10.8 billion market cap. $920.5 million worth of Solana's shares were traded in the previous day.
Shiba Inu experienced a 0.1 percent decline and a $4.6 billion market capitalization. In the previous 24 hours, there were $112.5 million worth of trades.
With a market capitalization of $7.2 billion, Polygon share price dropped by 0.4% to $0.8. In the previous 24 hours, there were $359.8 million in trades.