The worldwide cryptocurrency market capitalization is $893.3 billion Friday, down from $906.5 billion on Thursday afternoon.
The Hong-Kong based cryptocurrency lender Babel Finance joined Celsius in the suspension of withdrawals, according to the company’s website.
“Due to the current situation, Babel Finance is facing unusual liquidity pressures. We are in close communication with all related parties on the actions we are taking in order to best protect our customers,” the company said in a statement.
“During this period, redemptions and withdrawals from Babel Finance products will be temporarily suspended, and resumption of normal service be notified separately.”
Finblox, a Babel competitor, made the same move on Thursday, citing its ties to Three Arrows Finance, which is facing insolvency.
Bitcoin BTC/USD, the most popular cryptocurrency, is down 2.64% in the last 24 hours after dropping more than 5% on Thursday. The coin that once traded at $69,000 is priced at $20,639.15.
Let’s take a peek at some of the other top cryptos.
The popular altcoin used mainly for the purchase of NFTs remains buoyant, floating around 52-week lows. The coin is trading at $1,078.31.
The “fast, secure, and scalable” coin is trading 1.25% lower in the last 24 hours, with prices hovering around $31.21 on Friday.
Binance’s native coin is trading 1.43% lower to $214.78.
The ever-popular altcoin is trading 0.32% lower to $0.056.
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