Bitcoin and ethereum prices have dropped as the entire cryptocurrency market falls below the $1tn level.
Bitcoin (BTC-USD) spent much of Monday trading sideways before a fall on Tuesday to around $19,050, seeing the digital asset fall roughly 2% over the past 24 hours.
Ethereum (ETH-USD) fell further, down almost 3% to $1,284 (£1160), despite the supply of ether turning deflationary this week.
Check: Crypto live prices
The total supply of ether, Ethereum’s indigenous cryptocurrency, decreased by 0.02% in the past week, marking the first deflationary period where more ether is destroyed than created since the network transitioned to proof of stake in September.
Other digital assets faired even worse with cardano (ADA-USD) slipping almost 6% to $0.39 and ripple (XRP-USD) also down almost 6% to $0.48.
Watch: ‘Bitcoin will eat into global finance until it’s $1m per coin’ | The Crypto Mile
Memecoins like shiba inu (SHIB-USD) and dogecoin are both down, with dogecoin (
