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A HIGHER RATE DROP OF DIGITAL CURRENCY

A HIGHER RATE DROP OF DIGITAL CURRENCY

The world's largest digital token fell 2.7% on Monday and was trading at $ 33,741 from 12:40 p.m. in Singapore. The second largest, Ether, spent about 4.6%. Most of the major currencies were under pressure over the weekend and the downturn continued on Monday.


Strengthening monetary policy and spending cuts have led investors away from speculative assets in all global markets. In addition to warnings about digital assets, the value of TerraUSD or UST, a stable algorithmic stablecoin that aims to keep one peg to one dollar, slipped below $ 1 the weekend before recovery.


The rising interest rate allows individual investors and institutions to think about the appearance of the crypto market, according to Edul Patel, chief executive of Mudrex, an algorithm-based crypto investment platform.


"The downward trend is likely to continue over the next few days," he said, adding that Bitcoin could test the $ 30,000 level.


The token will reach the lowest level from July 2021 if it falls below $ 32,970. Bitcoin's 27% decline in 2022 compared to a more than 10% decline in global bonds and stocks, and a gold improvement of 2.5%.



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