Bitcoin prices and a number of cryptocurrencies fell during the last week's trading
The prices of most cryptocurrencies have declined over the past week at varying rates, according to the CoinMarketCap cryptocurrency trading platform.
According to the platform, Bitcoin witnessed a decline of 6.05% last week, to record $ 23.1 thousand, while the currency recorded a decline in the last 24 hours only by about 3.4%.
Ethereum fell by 5.4% over the past week, to $1,602,000, and BNB fell by 4.8%, to $301.3, according to CoinMarketCap.
XRP fell by 4.08% over the past week to $0.378, Cardano fell by 9.1% to $0.3654, and Dogecoin fell by 7.17% to $0.08137.
Senior US banking regulators issued a new warning yesterday for banks to be wary of any liquidity risks from cryptocurrency-related customers, warning that some of their deposits could be volatile, according to Reuters.
In a joint statement released on Thursday, the Federal Reserve, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency said banks must have robust tools to monitor the funds being placed by entities related to crypto assets.
According to the agency, these entities indicated that deposits placed with banks for the benefit of cryptocurrency consumers, as well as stablecoin reserves, could be subject to rapid outflows.
Cryptocurrencies are virtual currencies that do not have a physical existence and are not covered by tangible assets, and are traded over the Internet, and are not issued by any central bank, are not subject to the supervision of any supervisory authority, and are not controlled by any central authority.
Cryptocurrency mining depends on thousands of computers around the world that validate transactions and add more of these coins to the system.
Bitcoin is the most famous digital currency, but it is not the only one that has become famous in recent years, as the number of these currencies currently reaches thousands, especially after the first big wave of Bitcoin’s rise in 2017, which shed light on this field and trading in it, and thus the emergence of more of these currencies.
On the CoinMarketCap platform alone, about 9009 cryptocurrencies were traded, led by Bitcoin, along with some other digital currencies that became popular after the high price of Bitcoin and the inability of some to trade it, such as Ethereum, Dogecoin, Litecoin, and others.