Almost each of the ten most popular cryptocurrencies fell in price by 10% in just a day. Possible reasons are the transition of Ethereum to the PoS algorithm and the unexpected results of Binance’s takeover of another cryptocurrency exchange.

Cryptocurrencies have fallen in price. And continue to plummet

The Coinmarketcap service informs that over the past week, the bitcoin rate has dipped by 19.35% ($16418), and Ethereum has lost 24.35% of the value ($1177) as of 9 am Moscow time. It is noteworthy that both tokens have fallen in value by 10% in the last 24 hours alone.

Over the past seven days, Solana and Dogecoin have shown the largest drop among known cryptocurrencies (52% and 40.26%). The most stable for this period were USDT, BUSD and USDC tokens.

Experts explain the collapse of the “crypt” by the failed deal to take over the FTX site by the Binance crypto exchange. Binance did not buy FTX, as the latter, according to some media reports, allegedly treated clients’ investments in bad faith, and also came under the attention of US investigating authorities.