Bitcoin Plunges 48%, $93.5 Billion Wiped From Crypto Market – March 13

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$5,593

Bitcoin price has had one of its most volatile trading days of all time, crashing almost 50% to below $3,000 yesterday, before recovering to the mid-$5,000 range.

Top-20 altcoins saw just as much movement, as Ethereum ends the day down 14%, XRP down 11%, and Bitcoin SV down 25%.

Top Stories for March 13, 2020 🔥

👉 Bitcoin Plunges 48%, $93.5 Billion Wiped From Crypto Market

Bitcoin fell almost 50% in 24 hours yesterday, as $93.5 billion was erased from the total cryptocurrency marketcap. Price briefly broke through $4,000 support across exchanges, before recovering overnight.

The fall was accompanied by a wider sell-off in traditional markets, as the Dow Jones Industrial Average experienced its worst-performing day since 1987.

👉 PlusToken Scammers Moved 13k BTC to Mixers Before Crash

It has been reported that the scammers behind PlusToken, a Chinese ponzi scheme, had moved 13,000 Bitcoins to mixers just days before the Bitcoin crash.

The scam stole as much as $2 billion of investors’ coins and has been liquidating the stolen funds since August last year.

👉 DeFi Flash Loans Surged as Cryptocurrency Markets Tanked

While the cryptocurrency markets crashed over the last 24 hours, DeFi flash loans surged, reportedly assisting traders avoid liquidations worth hundreds of thousands of dollars.

Many of these came as a result of DeFi Saver, which provides everyday users with a feature to close Maker Vaults within a single transaction, via flash loans.