Bitcoin

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<ul class="news-points"> 
 <li>Stocks of Evergrande Group declined by almost 90% on Monday.</li> 
 <li>Tensions mount as the crypto community fears the selloff will impact the crypto market.</li> 
 <li>The crypto market is in the positive region, with major cryptocurrencies recording gains in the last 24 hours.</li> 
</ul> 
Stocks of China-based Evergrande Group collapsed shortly after it resumed trading on Monday as investors hurried to dump the stomp following a 17-month suspension, a <a href="https://www.cnbc.com/2023/08/28/china-evergrande-shares-plunge-as-trading-resumes-trade-after-17-months.html" target="_blank" rel="noopener noreferrer nofollow">report</a> reveals. The company’s troubles, which began in 2021, heightened this year after it filed for bankruptcy. 
As soon as trading started, the shares plunged 87% within the first few minutes. The selloff adds to the troubles of the company, which is battling mounting liabilities, losses, and increased regulatory scrutiny. Even though the company has set plans for restructuring in motion, the prolonged real estate crisis in China has exacerbated the company’s woes. 
As the drama unfolds, the crypto community sits on the edge, monitoring the impact of the selloff on the crypto market. The Evergrande bankruptcy announcement coincided with the Bitcoin selloff, which led many analysts… 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/is-crypto-in-trouble-as-chinas-evergrande-stock-falls-90/">Is Crypto in Trouble as China’s Evergrande Stock Falls 90%?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

Is Crypto in Trouble as China’s Evergrande Stock Falls 90%?

Coin Edition

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