Doge lost in value 9.1%, going from $ 0.264 at 9:30 a.m. Thursday to $ 0.240 at 7:00 a.m. this morning. Bitcoin also started the morning badly, dropping 3.3% from $ 33,876 at 12:15 a.m. to $ 32,774 just before 7 a.m.
On Thursday, Mr. Musk posted two tweets about Doge, a cryptocurrency in which he takes a keen personal interest.
Previously, comments from billionaires on Twitter had a dramatic impact on Doge’s worth.
The different fortunes for cryptocurrencies have given fears and hopes to something called “The Flippening”.
This is the long-awaited change where Ethereum becomes more valuable than Bitcoin.
The number of daily active addresses topped 649,000, while Bitcoin fell to around 580,000, analyst firm Santiment reported.
Cryptos also received a heavy blow this week after the Financial Conduct Authority (FCA) banned Binance, which is one of the world’s largest crypto exchanges, from carrying out any regulated activity in Britain.
This has now led a number of crypto asset companies to abandon their attempts to register with the UK financial regulator in a bid to fight heightened global surveillance.
Since January, crypto-related companies have had to register with the FCA, but only six have registered so far, and around 64 have withdrawn their applications since the announcement.
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