Bitcoin stumbles and El Salvador has more of the cryptocurrency by market capitalization than previously revealed. You see the currency desk every day. I'm your host, Jin Sane, Bitcoin drops to $67,000. With more than $100 million worth of Bitcoin trading in Asia. Long positions were wiped out as the world's largest digital asset fell from $70,000. Some analysts describe Bitcoin's pullback from record highs as a typical break after a sharp uptrend. While others said the market could adjust to the uncertainty ahead of next month's mining reward as Bitcoin stands at $67,759, down more than 6%. As of 9:30 AM EST. The Coin Desk 20 Index was also down nearly 7% at 2604. El Salvador holds more Bitcoin than we thought, with the Central American country transferring $400 million worth of Bitcoin to a cold storage wallet this week. The revelation by President Nai Bukele more than doubled the country's known holdings of the largest cryptocurrency by market capitalization. President Bukele unveils the wallet on The platform allows users to start their own networks on Bitcoin and offers developers millions of dollars in grant rewards. BBM stands for Bitcoin Virtual Machine and is a rapidly growing layer of the on-chain protocol. Allows users to create their own Layer 2 networks. Data indicates that the project's BBM tokens have added 35% in the past 24 hours. Overcoming general market decline. The tokens rose to $3.50 from an initial 20 cents on March 8th. That's it for Coindesk on a daily basis. Get more updates on Coindesk.com and we'll see you next time.
