Bitcoin Slips Below $40,000; Zilliqa And Dogecoin Race Ahead

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Bitcoin Slips Below $40,000; Zilliqa And Dogecoin Race Ahead

Bitcoin dropped below $40,000 on Thursday morning, retracing yesterday’s gains as S&P fell and Nasdaq lost ground in the early hours.Ether

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Bitcoin dropped below $40,000 on Thursday morning, retracing yesterday’s gains as S&P fell and Nasdaq lost ground in the early hours.

Ether, along with other major cryptocurrencies, have also fallen into the red zone. At the time of publication, the broader market for digital assets is down by 2.26% to $1.83 billion.

Marcello Mari, CEO at crypto investment platform SingularityDAO sees the market as being range bound for now because cryptocurrencies remain tightly correlated with the macroeconomic landscape and each other. He stated that cryptocurrencies won’t move independently unless there’s a significant catalyst that is only related to them.

Zilliqa leads the list of digital assets on Forbes. This token powers a blockchain project that is best known for its early implementations of sharding. This technology allows the platform’s infrastructure to be divided into multiple interconnected networks in order to support more transactions.

Over the last 24 hours, the cryptocurrency has risen 12.36% and is trading at $0.12. The rally appears to be picking up speed ahead of Zilliqa’s announcement of its vision for the rest of the year, scheduled this afternoon.

Although Elon Musk’s favorite cryptocurrency Dogecoin has seen modest gains of 2.4%, it is still ahead of the majority of tokens. Following Musk’s Thursday offer of $43 billion to purchase Twitter, the meme coin surged.

Dogecoin’s rival shiba Inu is trailing, with a loss of 1.97% in the last day. SHIB gained more than 20% earlier this week after Robinhood listed it on its platform.