BlockBriefly

Date: September 25, 2023

Market Cap 24h Change: -0.38%

Reason:

The market has been down by -0.38%. There are multiple negative news in the last 24 hours which could have contributed to the market drop. The South Korean government's plans to scrutinize major shareholders of crypto exchanges for eligibility issues could lead to increased regulatory concerns in the market. Also, the security breach experienced by the decentralized Mixin Network leading to a loss of approximately $200 million in digital assets, might have caused significant apprehension among crypto investors. Further, the visible risk aversion in the Bitcoin futures market may have resulted in a widening of the bearish sentiment. However, the precise impact from each of these news is not clear and thus, the exact reasoning behind this market decline cannot be confidently determined.

Date: September 23, 2023

Market Cap 24h Change: 0.24%

Reason:

The market has been largely stable.