Ripple, created to help make cross-border payments easier, surged more than 300-fold last year as the investment frenzy surrounding bitcoin spread to other cryptocurrencies. Skeptics have warned of a bubble, while governments including China and South Korea have taken steps to clamp down on what they see as excessive speculation.
Wednesday’s decline may have been fuelled by profit taking after last year’s rally, said Neelabh Dixit, co-founder of Cryptomover in Hong Kong. Bloomberg
Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.
Never miss a story! Stay connected and informed with Mint.
our App Now!!