Crypto Crackdown: China Shuts Down Mining Projects in Anhui Province to Save Power Supply

Tether, Binance Coin, and USD Coin are either maintaining their market price or rising in the recent trends, but leading cryptocurrency Bitcoin ($BTC) crashed deep into the “safe zone.” The world has been in a roller coaster experience with cryptocurrency, and it has a lot of fans, enthusiasts, and miners on the edge, as changes have affected a lot in the market.

Different trends have demonstrated themselves in the cryptocurrency world, and bulls have been reporting a lot of different trends, including that of other names to top the list like last week with $HEX.

Tether, Binance Coin, USD Coin Rises

Tether, Binance Coin, USD Coin, Cryptocurrency, bitcoin, Bitcoin Crash, Bitcoin Safe Zone, Bitcoin Crash Safe Zone, last week with $HEX, value diminishing over time

(Photo : Dmitry Demidko from Unsplash)

Three popular names in the top 10 list and cryptocurrency industry have remained in their ranks or grown in terms of market caps. These are Tether, Binance Coin, and USD Coin, which have prevailed amidst this problem in the cryptocurrency industry. That being said, other massive names like Bitcoin, Ethereum, Cardano, XRP, and the meme coin, Dogecoin, are all in a downward spiral.

In Coin Market Cap’s charts, Tether is up by 0.01 percent in the past 24 hours and has a 62 billion market cap, which is safe to say, maintaining its rank and valuation amid the changes. On the other hand, Binance Coin is up by 0.66 percent (past 24 hours), with its market cap at $42 billion.

Lastly, like Tether which only has a $1 selling price, USD Coin is risen by 0.03 percent in the past 24 hours, with its $26 million market cap. Tether and USDC’s rise may be minimal and looks like maintaining its current rank, but it is something of an achievement as it does not crash.

Bitcoin Crashes to ‘Safe Zone’

Tether, Binance Coin, USD Coin, Cryptocurrency, bitcoin, Bitcoin Crash, Bitcoin Safe Zone, Bitcoin Crash Safe Zone, last week with $HEX, value diminishing over time

(Photo : Aleksi Räisä from Unsplash )

While others are becoming stable and remain on a certain spot, the top 1 cryptocurrency, Bitcoin, is facing a massive 4.29 percent crash in the past 24 hours, and 2.07 percent in the past week. The leading cryptocurrency’s selling price is not at one of its lowest, playing around at $31,000, give or take.

However, the $31,000 mark is known to be the “Safe Zone,” or where bulls or enthusiasts consider a mark where it can be said that BTC is still in good shape. The crash into the safe zone is part of the coin’s popularity and value diminishing over time, despite the many efforts of its fans to mine and invest in.

Currently, it is unknown if Bitcoin will recover from this, or move away from the “safe zone.” However, its fans and enthusiasts will not give up and remain to fight another day.

Is Crypto Going to Recover?

On the other hand, the crash of the cryptocurrency market proved that it is still on a balloon, and not as stable as people thought them to be. With regards to recovery, some have been maintaining their selling and market caps, despite this, while some are declining. Other newcomers are also making accumulation outside the charts.

This could mean that a new age of cryptocurrency is coming, replacing the former giants with new names. However, this may also mean that the time of crypto is done.

Written by Isaiah Richard

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