The cryptocurrency market witnessed a downturn during Tuesday's trading session, with digital asset prices seeing significant declines due to profit-taking and market corrections.
According to media reports, Trump Media & Technology Group, owned by former U.S. President Donald Trump, is planning to raise around $3 billion to invest in cryptocurrencies, particularly Bitcoin.
The report stated that the company, which operates the Truth Social streaming and social media platform, aims to raise $2 billion through a new stock offering and another $1 billion via the issuance of convertible bonds.
During the session, Bitcoin dropped by approximately 0.60%, trading at around $108,961 after nearing the $110,000 level in the previous session.
The global market capitalization of the world’s leading cryptocurrency remained steady at $2.17 trillion, while 24-hour trading volume increased to $48.39 billion.
On a weekly basis, Bitcoin managed to add about 3.08% to its value, amid expectations of further gains in the coming period.
As for other cryptocurrencies, Ethereum fell by 0.32% today to reach $2,550, while Binance Coin lost around 0.06% to trade at $673.
Cardano dropped by 0.92% to $0.7557, and Ripple declined by 1.83% to $2.2997.
Dogecoin also fell by 1.13%, trading at $0.224656
