{"id":197217,"date":"2021-06-12T01:23:55","date_gmt":"2021-06-11T20:23:55","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=197217"},"modified":"2021-06-12T01:23:55","modified_gmt":"2021-06-11T20:23:55","slug":"crypto-market-limps-towards-low-after-blow-from-imf","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/crypto-market-limps-towards-low-after-blow-from-imf\/","title":{"rendered":"Crypto market limps towards low after blow from IMF"},"content":{"rendered":"<p>The crypto market faced a blow on Friday, a day after the International Monetary Fund (IMF)  said that crypto assets can pose significant risks, and the total market capitalisation decreased 2.1 percent to $1.65 trillion as of 13:20 GMT.<br \/>\nThe price of bitcoin, the largest cryptocurrency, shed 0.76 percent to reach $37,440. With this decrease in price, the market capitalisation of the BTC has reached $701 billion.<br \/>\nLikewise, ethereum (ETH) price decreased by 3.04 percent to reach $2,472. With this decrease in price, the market capitalisation of ETH has reached $287 billion.<br \/>\nSimilarly, XRP shed 1.74 percent to reach $0.866. The market capitalisation of XRP stands at $86.6 billion after this decrease.<br \/>\nOn the other hand, Cardano (ADA) price reached $1.52 with a 3.00 percent decrease in its price. Its market capitalisation has reached $48.8 billion with this decrease.<br \/>\nSimilarly, dogecoin (Doge) shed 3.78 percent to reach $0.323. With this decrease in price, the market capitalisation of Doge reached $41.9 billion.<br \/>\nOn the other hand, the IMF has warned of \u201ca number of macroeconomic, financial and legal issues\u201d surrounding El Salvador making bitcoin legal tender. \u201cCrypto assets can pose significant risks and effective regulatory measures are very important when dealing with them,\u201d IMF Spokesperson Gerry Rice cautioned.<br \/>\nGerry Rice said, \u201cAdoption of bitcoin as legal tender raises a number of macroeconomic, financial and legal issues that require very careful analysis so we are following developments closely and will continue our consultation with authorities. Crypto assets can pose significant risks and effective regulatory measures are very important when dealing with them.\u201d<br \/>\nThe spokesperson added that the IMF will meet with President Bukele to discuss the recently passed bitcoin law. El Salvador has been in discussions with the IMF seeking a near $1 billion loan.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The crypto market faced a blow on Friday, a day after the International Monetary Fund (IMF) said that crypto assets can pose significant risks, and the total market capitalisation decreased 2.1 percent to $1.65 trillion as of 13:20 GMT. The price of bitcoin, the largest cryptocurrency, shed 0.76 percent to reach $37,440. With this decrease [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"post-197217","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-world"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Crypto market limps towards low after blow from IMF<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/crypto-market-limps-towards-low-after-blow-from-imf\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto market limps towards low after blow from IMF\" \/>\n<meta property=\"og:description\" content=\"The crypto market faced a blow on Friday, a day after the International Monetary Fund (IMF) said that crypto assets can pose significant risks, and the total market capitalisation decreased 2.1 percent to $1.65 trillion as of 13:20 GMT. The price of bitcoin, the largest cryptocurrency, shed 0.76 percent to reach $37,440. 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The price of bitcoin, the largest cryptocurrency, shed 0.76 percent to reach $37,440. 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