Jakarta, Armfalcon.com —
The price of the majority of assets crypto with the largest market capitalization collapsed in trading Thursday (11/5) morning. Only bnb And Cardano which strengthens.
Quoting coinmarketcap, Bitcoin fell 0.8 percent to a price of US$27,473 per chip. Likewise Ethereum slumped 0.9 percent to US $ 1,829 per coin.
XRP corrected 0.8 percent to US$0.428 per coin. The trend for the week, this coin made by Ripple Labs fell 7.3 percent.
Dogecoin fell 0.8 percent to $0.072 per chip. Meanwhile, Polygon was sluggish at a price of US$0.86 per chip due to a 0.9 percent weakening. Then Solana slipped 0.5 percent to US $ 20.6 per coin.
In the ranks of the top 10 coins, only BNB and Cardano have strengthened, although only slightly.
BNB rebounded 0.02 percent to $313 per coin. Then, Cardano also strengthened 0.3 percent to US $ 0.365 per coin.
As for Tether and USD Coin which are stable coins, they are still loyal to the price of US $ 1 per chip. Both fluctuated slightly below 1 percent.
The government still prohibits the use of crypto as a means of payment. However, crypto is a futures exchange commodity, so it can be used as an investment asset or a commodity traded by market players.
Crypto assets are regulated by the Commodity Futures Trading Supervisory Agency (Bappebti) of the Ministry of Trade through CoFTRA Regulation No. 2 of 2019 concerning the Organization of Physical Commodity Markets on Futures Exchanges.
Crypto rules are also listed in CoFTRA Regulation Number 8 of 2021 concerning Guidelines for Organizing Crypto Asset Physical Market Trading on Futures Exchanges.