Major cryptocurrencies continued to lose ground on Monday after the Paraguayan Senate approved a bill that would allow registered companies to use surplus electricity to mine cryptocurrencies.
Despite this generally positive news for the market, the bitcoin rate per day, according to Forex Club, decreased by 2.5% - to $ 46,738 with a capitalization of $ 885.3 billion. Ethereum fell 2.2% to $ 3900 with a capitalization of $ 464.9 billion. XRP fell in price by 6.5% - to $ 0.8922, its capitalization amounted to $ 42.4 billion. Litecoin weakened by 0.9% - to 155.1 dollars with a capitalization of 10.8 billion dollars.
The total cryptocurrency market capitalization reached $ 2.10 trillion.
In the near future, the market may continue to fall, as investor sentiments are still mostly pessimistic. Bitcoin risks dropping to $ 45,000, Ethereum to $ 3,800, XRP to $ 0.75, and Litecoin to $ 140.
The rise in coal consumption is driven by the rapid recovery of the global economy, soaring natural gas prices and the inability of green energy to meet electricity demand, the International Energy Agency said in a report on Friday.