Bitcoin price plunge hits Cardano, Solana and other cryptos amid worries of Evergrande default

Cryptocurrencies were licking their wounds on Tuesday after prices plunged a day earlier with roughly half a trillion dollars was wiped from the crypto market. 

It comes amid concerns over the spillover risk to the global economy from Chinese property group Evergrande's troubles.

Bitcoin, the world's biggest and best-known cryptocurrency, tumbled almost 10 per cent on Monday to almost $40,000 (€34.000), its lowest level since Aug 7. 

On Tuesday, it recovered to trade at around $43,000 (€36.000). It comes after Bitcoin hit a near four-month high above $52,000 (€44.313) on September 6.

Evergrande default: Could the property giant's €250 billion debt spark a global financial crisis?

But Bitcoin was not the only crypto to suffer.

Smaller rival Ether, the coin linked to the Ethereum blockchain network which is the second-biggest cryptocurrency by market cap fell more than 10 per cent on Monday.

Meanwhile, Cardano, Solana and Polkadot shed between 7 per cent and 12 per cent on Monday. And the meme-based Dogecoin has slipped from seventh to 10th place on the CoinMarketCap ranking




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