HomeNewsCryptocurrency prices tumble and exchange trading falters as snags crop up -...

Cryptocurrency prices tumble and exchange trading falters as snags crop up – Reuters

A representation of virtual currency bitcoin is seen in front of a stock graph in this illustration taken November 19, 2020. REUTERS/Dado Ruvic/Illustration/File Photo
NEW YORK, Sept 7 (Reuters) – The price of cryptocurrencies plunged and crypto trading was delayed on Tuesday, a day in which El Salvador ran into snags as the first country to adopt bitcoin as legal tender.
Shares of blockchain-related firms also fell as crypto stocks were hit by trading platform outages. But the major focus was on El Salvador, where the government had to temporarily unplug a digital wallet to cope with demand.
Bitcoin, the world's biggest and best-known cryptocurrency, tumbled more than 17% to $43,000 before paring some losses to trade down 9.20% at $47,140.27. Earlier bitcoin had hit a session high of $52,948.00.
Smaller rival ether , the coin linked to the ethereum blockchain network, fell 11.99%.
Major cryptocurrency exchanges Coinbase Global Inc (COIN.O) and Kraken said they faced delays in some transactions on their platforms.
Coinbase said some transactions were delayed or canceled at "elevated rates" and that "our apps may be experiencing errors." The exchange later said issues with Coinbase card swipes were resolved and that transactions were going through normally.
The Gemini exchange said it temporarily entered a full-maintenance period to address an exchange-related issue that caused performance trouble.
Coinbase (COIN.O) shares slid 4.02%.
Anything related to cryptocurrencies appeared to suffer. Cryptocurrency miners Riot Blockchain (RIOT.O) fell 7.38% and Marathon Digital Holdings (MARA.O) slipped 7.76%.
Shares of MicroStrategy Inc (MSTR.O), a BTC buyer and business intelligence software firm, fell 7.64%.
Our Standards: The Thomson Reuters Trust Principles.
Sign up to our tech newsletter to get the latest news and trends in the global technology industry.
Subscribe to our newsletter to get all the news you need to start your day.
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.
Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology.
The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs.
The industry leader for online information for tax, accounting and finance professionals.
Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile.
Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts.
Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks.
All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays.
© 2022 Reuters. All rights reserved

source

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read