The largest token drops to $16,100.
On Monday, cryptocurrency prices fell as a result of investor angst on international markets brought on by demonstrations against COVID restrictions in China.
At one point in the morning trade in Tokyo, the price of bitcoin dropped by 3.2% to around $16,170. The second-largest cryptocurrency in the world, Ether, decreased by about 4%.
Analysts talk about concerns about “wrapped” ether.
Analysts noted investor concerns regarding “wrapped” ether, which should have the same value as ether while still providing access to other apps, in addition to the unrest in China.
Bitcoin experienced its worst monthly performance since June in November, falling approximately 21%, and the crypto crisis has destroyed about 70% of the top 100 digital assets in the world so far this year.
The collapse of FTX, which touted a $32 billion valuation but went out of business last month in a matter of days, continues to pose a threat to the whole digital asset market.