The prices for cryptocurrencies fall and the stock exchange trade stalls when snags appear

The stocks of blockchain-related companies also fell as crypto shares were affected by failures of the trading platforms. However, the main focus was on El Salvador, where the government had to temporarily separate a digital wallet from the network in order to meet demand.

bitcoin , the world's largest and best known cryptocurrency, crashed by more than $ 43,000 before reducing a few losses to $ 9.20 %. Bitcoin had previously reached a session high of $ 52,948.00.

Smaller rival ether, the coin connected to the Ethereum blockchain network, fell by 11.99%.

The large cryptocurrency exchanges of Coinbase Global Inc and octopus stated that they were faced with delays in some transactions on their platforms.

Coinbase said that some transactions were delayed or canceled at "increased prices" and that "errors may occur in our apps". The stock exchange later said that problems with Coinbase card drives were resolved and that the transactions were normal.

The Gemini exchange indicated that it has temporarily entered a complete maintenance phase to fix a market-related problem that led to performance problems.

The coin base share slipped by 4.02 %.

Everything that has to do with cryptocurrencies seemed to suffer. The cryptocurrency miner Riot Blockchain fell by 7.38 % and Marathon Digital Holdings by 7.76 %.

The shares of Microstrategy Inc, a BTC buyer and company for business intelligence software, fell by 7.64 %.

A look at all business events of today can be found in our economic calendar.

(Reporting by Herbert Lash in New York, additional reporting of Saikt Chatterjee in London and Aaron Saldanha in Bengaluru; editorial team of Sujata Rao and Rosalba O’Brien)