Why Bitcoin, Ethereum, and Dogecoin Dropped Today
Cryptocurrencies were having a rough day on Sunday after a healthy recovery last week. But in cryptocurrencies, we have seen recently that momentum doesn't last for long.
As of 4:00 p.m. ET, Bitcoin (CRYPTO: BTC) is down 3.5% in the last 24 hours, Ethereum (CRYPTO: ETH) has fallen 4%, and Dogecoin (CRYPTO: DOGE) is off 3.8%. But over the last week, the same cryptocurrencies are up by 7.4%, 8.7%, and flat, respectively.
More pain is being reported in the crypto lending space as exchange Blockchain.com reportedly faces a $270 million loss on loans to Three Arrows Capital. The collateral damage and web of loans in the crypto space have come to light after Three Arrows Capital filed for bankruptcy in the U.S. and has begun being liquidated.
Source Fool.com
