Cryptocurrencies are recording declines this morning, Wednesday, October 13, mid-session, as Bitcoin leads the declines, with a loss of 4.5%, and trading at levels of 54,823 thousand dollars, down from its highest level since last May at 57,700 recorded by Bitcoin at the beginning of the week, but it maintains its market value that exceeded one trillion dollars at 1,032.953 trillion dollars.

Despite the decline in the market value of cryptocurrencies combined, according to the Coingecko website, this Wednesday morning, by about 1.1%, the market value remains at its highest level in five months at 2.38 trillion dollars, of which Bitcoin represents 43.7%.

The negative tone from the International Monetary Fund came yesterday, Tuesday, to put pressure on digital currencies, as the International Monetary Fund warned in its report on global financial stability yesterday that digital currencies continue to pose significant challenges to market conditions and that they must be monitored closely, as with the increase in the adoption of cryptocurrency, the impact will increase.

The potential for the economy and risks, according to the report. On the other hand, Cathy Wood’s ARK INVEST fund, ranked as the best stock picker for the year 2020, reduced its investment in Coinbase by $25 million for the first time, after the share benefiting from the rise of Bitcoin rose to its highest level in five months. California, which specializes in the exchange of digital currencies, fell at the close by about 2.8%.

In a related development, Coinshares data for digital asset management showed that crypto funds attracted inflows and investments worth $226.2 million last week for the eighth consecutive week, reaching $638 million in the last eight weeks, to reach $6.3 billion since the beginning of the year.

Ethereum, the second largest digital currency in the world in terms of market value, is declining by about 1.50% at the beginning of the session today, Wednesday, and it is trading at levels of 3.432 thousand dollars, with a decline in its market value to 404 billion dollars.

Cardano, the fourth largest digital currency, is trading at levels of $2.11, down by about 0.64%, and a decline in the market value to $69 billion, while Dogecoin is down by about 1.52%, trading at levels of 0.222, and a decline in market value to $29 billion.

Ripple XRP, in turn, records losses of about 0.34% and trades at $1.09 levels, with a market value of $50 billion, while Solana, the seventh currency in terms of ranking the highest cryptocurrency by market value, rises by about 2.28% and trades at 146.51 levels with a market value of $43 billion.

The Sheba currency, SHIBA INU, despite its decline by about 8.34% and trading at 0.00002829 levels, advanced to the 17th place in the ranking of the highest currencies in terms of market capitalization, with the market value rising to 11 billion dollars.

The Binance Coin, or BNB, is recording strong increases of about 15% today, Wednesday, to tweet alone outside the flock, and is trading at levels of $ 464.10, with an increase in the market value to $ 78 billion, displacing Cardano and occupying third place after Binance announced a billion dollar fund through the Binance Smart system. Chain, with the aim of promoting crypto adoption.