Prices of cryptocurrencies slumped on Monday, after the United States' largest cryptocurrency exchange's shares, Coinbase Global Inc., plunged as the FTX saga fueled the market volatility that continued to weigh down on digital currencies.
Coinbase's stock neared its all-time lows since the company went public back in April 2021, nosediving by almost 10% in the afternoon trading as the collapse of the merger deal between Binance and FTX.com dragged investors' confidence down.
Bitcoin dropped 3.05% at 3:24 pm ET, selling for $15,778, trading at the lowest level since December 2020 after tumbling about 17.6% over the past month. Ether slipped by 3.75% at the same time, going for $1,100 after losing nearly 15% in the last 30 days.
