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28 March

By Ahmed Mamdouh

Category: Cryptocurrencies

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Cryptocurrencies’ market capitalization remains weak

Cryptocurrencies were mixed on Wednesday amid uncertainty about the future of the digital coins amid the latest crackdown from social media giants.

Meanwhile, cryptocurrencies are neither regulated nor unregulated, which is causing a status of uncertainty and pushing the total market volume to the downside.

The aggregate market capitalization for cryptocurrencies is currently at $300,778,215,077, according to CoinMarketCap, where it has been ranging between $280 billion and $350 billion.

Pressure on crypto coin prices escalated this week after Twitter joined Facebook in banning crypto related ads, where Google AdSense will also start banning in June.

The volume has been declining since December as major cryptocurrencies began a sharp downside correction that surpassed 70 percent in the Bitcoin for instance.

As of 09:34 GMT, the Bitcoin traded 0.84 percent higher at $8,043.25, while Ethereum tumbled 0.14 percent to $461.38.

Ahmed Mamdouh

Ahmed Mamdouh is the head of the English Fundamental Analysis at D1stp.com, with 9 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.