Cryptocurrency market experiences a significant decline, with over $170 billion in value lost, amidst concerns over Mt. Gox bitcoin payout.

Cryptocurrency market experiences a significant decline, with over $170 billion in value lost, amidst concerns over Mt. Gox bitcoin payout.
Cryptocurrency market experiences a significant decline, with over $170 billion in value lost, amidst concerns over Mt. Gox bitcoin payout.

On Friday, the value of cryptocurrencies decreased as the attention of investors shifted towards the distribution of approximately $9 billion to users of the failed bitcoin exchange Mt. Gox.

Bitcoin's price dropped over 6% in the past 24 hours, reaching a low of $54,237.18, which is its lowest point since late February, according to CoinGecko data.

Rival token ether sank around 10% to $2,869.36.

In the last 24 hours, the entire cryptocurrency market has lost more than $170 billion in market capitalization, as per CoinGecko data.

This breaking news story is being updated.

by Ryan Browne

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