Topline After a run-up in prices ushering in Coinbase’s long-awaited market debut earlier in the week, the cryptocurrency market plummeted early Sunday after blackouts in China led to massive declines in bitcoin’s mining rates—tanking prices and spurring billions of dollars in liquidations. The market is already on the mend, but bitcoin prices are still down about 10%. Getty Images Key Facts An overnight crash that started late Saturday tanked the total market capitalization of cryptocurrencies around the world by about $310 billion in less than 24 hours, shrinking the market from more than $2.2 trillion to less than $1.9 trillion at around 8 a.m. Eastern, according to crypto-data website CoinMarketCap. As of 9:45 a.m. Eastern, the market has climbed back to roughly $1.95 trillion, but the price of bitcoin—floating at about $54,750—is still down abo… Click below to read the full story from Forbes
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Crypto Flash Crash Wiped Out $300 Billion In Less Than 24 Hours, Spurring Massive Bitcoin Liquidations
