The Crypto Report: Bitcoin and Ethereum plunge on poor Coinbase earnings, crypto markets take a hit

The crypto markets took a US$3bn hit this Wednesday, as Bitcoin dipped below US$23,000 while Ethereum fell 5.5% to US$1,680.

Among the worst hit were Cosmos blockchain’s ATOM coin, which saw a double-digit hit to its now US$3bn market capitalisation, and Oasis Network, whose ROSE coin dipped over 10%.

Kusama, Helium and Dash network were also among the biggest daily fallers.

The Nexo lending platform and iFinex’s LEO token were among the few daily risers, adding 4.4% and 3.8% respectively.

One the worst hit In the decentralised finance (DeFi) space was decentralised stablecoin exchange Curve, who also had to deal with a US$570,000 server hack.

1inch Network, Synthetix and Compound Finance also took a tumble.

Total volume locked across the whole DeFi space is currently US$66.78bn, having declined 2.7% in the past 24 hours.

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