A great number of cryptocurrencies dropped considerably in
value during the early morning hours (after 12:00 a.m. EST) on December
4. At the time of writing, the crypto economy is down more than 16% and
the price of bitcoin slid below the $50K zone to a low of $43,972 per
unit. Since then, bitcoin has managed to climb back to just above the
$47K per unit position.
Crypto Economy Value Dives
Digital currency markets have lost significant value during the last
24 hours as billions have left the crypto economy in a matter of hours.
Currently, the crypto economy and its 11,388 coins in existence have
lost more than 16% in USD value. Bitcoin (BTC) slipped from the $53K per unit region to $43.9K during the first hour of Saturday morning.
The downward slide took BTC down 17.16% but the crypto asset has since regained 7.28% following the market carnage. BTC
has managed to rise above the $47K region and has an overall market
valuation of around $895 billion. Seven-day statistics indicate bitcoin (BTC) has lost 11.5% but 30 day stats show the price is down 25.2%.
The second-largest market valuation, held by ethereum (ETH),
lost 13.9% during the last 24 hours but seven-day metrics indicate
ether is only down by 2.2% after reaching its all-time high (ATH) last
week. The biggest loser in the top ten was dogecoin (DOGE) as it shed
21.9% in 24 hours. Polkadot (DOT) lost 21.7%.
While solana (SOL) is up 0.6% for the week, SOL lost 18.2% during the crash. XRP took a 19.8% dive and cardano (ADA) slipped 17.5% during the last 24 hours. Binance coin (BNB) was the only top ten contender to manage to stave off the losses as it only shed around 12.7% during the drop.
BTC’s market dominance today is 38.4% of the crypto economy while ethereum (ETH)
commands 20.2%. Ether has a market capitalization of around $470
billion at the time of writing. Today there is $243.8 billion in global
trade volume and stablecoin volume captures $147 billion worth of those
trades.
The stablecoin economy’s overall valuation today is $156 billion or
6.67% of the $2.32 trillion crypto economy. While a great majority of
coins lost considerable value, except for stablecoins, ecash (XEC) is
still up 7.2%.
Today’s biggest losers include fantom (FTM) down 27.7%, and theta
network (THETA), which dropped 27% during the crypto market slide.
source link : https://news.bitcoin.com/crypto-economy-loses-billions-in-market-downturn-bitcoin-price-slips-more-than-25-in-30-days/
