Good days are not taking the name of coming for the people investing in cryptocurrencies. Several major cryptocurrencies are trading on the red mark on Sunday. Bitcoin has also seen a steady decline for the past few days. Bitcoin slipped below $28,000 on Sunday. At two o’clock on Sunday afternoon, the price of bitcoin was trading at $27595.70. This currency has registered a decline of 4 percent in the last 24 hours. At the same time, talking about Sunday, there has been a decline of 2.68 percent in it.
On Sunday, the global crypto market cap is at $ 1.13 trillion, which is 5.09 percent lower than the previous day. The total crypto market value stood at $ 71.55 billion in the last 24 hours, which increased by 6.14 percent. Talking about other cryptos, Dogecoin fell 12.8 percent to $ 0.066169 on Sunday morning. At the same time, Shiba Inu fell 13.4 percent to $ 0.00000886. Cardano has seen a huge drop of 10.9 percent. With this decline, the price of Cardano reached $0.522211. At the same time, Solana was trading at $ 32.43, down 13.6 percent. At the same time, apart from this, other cryptos including Avalanche, Polkadot, Polygon have registered a decline on Sunday.
what is Cryptocurrencies?
Cryptocurrency is actually decentralized digital money based on blockchain technology and secured with cryptography. Now you would like to know what is this Blockchain? Simply put, a blockchain is a digital ledger (ledger) in the case of cryptocurrency, which only users have the right to use. This ledger records the transactions of various types of assets, which include assets such as money, houses, etc.
Blockchain rights are shared with the users and the special thing is that the information available here is completely transparent, instant and so secure that it cannot be changed in any way by the users or even the administrator. Now let us understand the difference between centralized and decentralized money. Centralized money is Rupee for us, which is governed by Reserve Bank of India. There is no one to govern the decentralized money and no authority to supervise the fall or rise in its value.