Highlights

  • Binance paused withdrawals due to stuck transactions
  • Bitcoin down over 15% in 24 hours

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Crypto collapse: Bitcoin crashes, Exchanges and lenders pause withdrawals

Marketcap has shrunk to one-third from peak

Bitcoin plunged to an 18-month low, falling below $23,000. The most popular digital token tumbled by 15% in the past 24 hours, while Ethereum, which is second to bitcoin, fell 17%.

Binance the world’s largest crypto exchange paused withdrawals 'due to a stuck transaction'. Crypto lending company called Celsius has paused withdrawals for its customers, sparking fears of contagion into the broader market.

The market cap of crypto has fallen to one third its peak value now below $1 trillion, down from $3 trillion in Nov. 2021

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