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Cryptocurrency prices today plunged with Bitcoin trading below $23,000 mark. The world's largest and most popular cryptocurrency dipped more than a per cent to $22,151. The global cryptocurrency market cap today was back above the $1 trillion mark, even as it was down more than 2% in the last 24 hours to $1.06 trillion, as per CoinGecko.

On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, fell more than 2% to $1,536. Meanwhile, dogecoin price today was trading nearly 4% lower at $0.06 whereas Shiba Inu also tumbled over 4% to $0.000011.

Amid the volatility, ether has skyrocketed by more than 50% in a month. In the annual Ethereum Community Conference (EthCC) that was held in Paris, co-founder Vitalik Buterin revealed that the Ether network will be 55% complete once they finish the up-gradation of Merge.

Earlier, in May, Buterin had revealed that the Merge upgrade is set to take place in August. Under the upcoming upgrade, the current Ethereum Mainnet will "merge" with the beacon chain proof-of-stake system.

Other crypto prices' today performance also declined as XRP, Solana, BNB, Litecoin, Stellar, Chainlink, Tron, Apecoin, Avalanche, Polkadot, Polygon, Tether prices were trading with cuts over the last 24 hours, however, Uniswap rose over 3%.

Cryptocurrency exchange Zipmex said on Sunday it was considering a possible offer after talks with interested parties and due diligence should commence, reported Bloomberg.

The Asian platform, in markets like Singapore, Thailand, Indonesia and Australia, was among several in the digital-assets industry encountering financial difficulties in recent weeks. Last week it had halted withdrawals as the fallout from a series of defaults spread further throughout the industry.

Zipmex joined crypto firms from Celsius Network Ltd. to Vauld in suspending withdrawals, leaving depositors in the lurch and underscoring the perils of leveraged bets permeating the industry. Vauld, a crypto lending and trading platform based in Singapore, is trying to stave off collapse by seeking relief from courts and selling itself to a rival.

The cryptocurrency market failed to recover from Terra’s collapse in May as insolvency threats loomed large over major crypto lending companies, spreading fear among market participants.

(With inputs from agencies)

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