Monday, March 26: the cryptocurrency markets accelerated the downward trend that began yesterday, and are currently in the red. Ethereum (ETH) fell below the $ 500 level for the second time this month after reaching close to $ 600 on March 24. Bitcoin is below $ 8,000.
The total capitalization of the market has been reduced to $ 303 billion at the close of this edition, the 10 major digital currencies listed in Coinmarketcap are in red.
Although it managed to reach $ 9,000 on March 24, Bitcoin (BTC) registered a drop of 7.58 percent in a 24-hour period, trading at $ 7,990.84 at the close of this edition. BTC lost 22 percent of its value in the last month, according to the Cointelegraph price index.
Ethereum, which lost 9.04 of its value in 24 hours, has dropped to less than $ 500 twice this month. ETH has lost more than 45 percent in the past 30 days, and is currently trading at $ 480.46.
Cardano (ADA) and NEO lost more than 12 percent in a 24-hour period, trading at $ 0.162 and $ 57.30, respectively, at the close of this edition.
EOS, which previously saw growth of almost 60 percent in a week, has lost 16.56 percent in the last 24 hours. At the time of publication, EOS is quoted at $ 5.52.
After a week of growth, cryptocurrencies are experiencing a significant decline that began yesterday. Last week, the Internal Revenue Service (IRS) of the United States warned crypto-investors to report their cryptocurrency earnings on their income tax returns, claiming that the virtual currency is considered property and, therefore, subject to federal taxes.