Crypto
Bitcoin Index Hits New Low as Ripple Holds Firm Amid Binance Token Delistings
The Coinbase Bitcoin Premium Index has extended its negative streak to 78 consecutive days, the longest on record. This reading comes as the market experiences a bearish trend, with Bitcoin (BTC) having dropped by almost 50% from its record high to around $64,000.
Ripple (XRP), which has been struggling lately, held near support levels amid growing on-chain activity. Despite this, XRP declined for a second day in a row, trading at around $1.07 at the time of writing.
Binance, the largest cryptocurrency exchange by volume, announced it would delist six tokens in August, including Hashflow (HFT) and PIVX (PIVX). This move comes as the crypto market faces an ongoing bearish trend.