Bitcoin Price Depreciation Drags Crypto Market Cap to $2.534T
Market data from cryptocurrency exchanges shows that the price depreciation of Bitcoin on the final day of May reduced the value of the entire cryptocurrency market to $2.53 trillion, a decrease of 0.11% from the previous day.
Bitcoin dropped below $68, 000 due to retail selloffs, its market dominance reached 52.73%, which represents a decrease of 0.25%. The total crypto market volume traded over the last 24 hours reached $70.54 billion, which is a 4.41% decrease day on day.
The total volume in DeFi traded settled at $4.92 billion, which represents 6.97% of the total crypto market 24-hour volume. The volume of all stable coins is now $66.22 billion, which is 93.88% of the total crypto market 24-hour volume.
Most major digital assets fell Friday, with Bitcoin (BTC/USD) sliding below the $68,000 level. The CoinDesk Market Index, which tracks 192 digital assets, was down 2.2% day on day. The Nasdaq 100 declined 0.9%, the S&P 500 was nearly flat, and the Dow Jones Industrial Average rose 0.7%.
Bitcoin (BTC/USD), the largest cryptocurrency by market value, fell 1.1% in the last 24 hours to $67,801, according to CoinMarketCap data. Trading volume was $27.8 billion, down 4.3%.
The most popular cryptocurrency is on pace to conclude the week with a loss of nearly 2%. Ethereum (ETH/USD), the second-largest digital asset, was trading 0.7% higher at $3,786 and headed for a weekly gain of more than 1%.
BNB (BNB/USD), the third-largest digital asset by market value excluding stablecoins, eased 0.4%, while Solana (SOL/USD), the fourth-largest, was down 1%. XRP (XRP/USD) shed 0.8%, Toncoin dipped 2.1%, Dogecoin (DOGE/USD) lost 1%, and Cardano (ADA/USD) was 0.7% lower.
The US 10-year Treasury yield closed at 4.512% on Friday, down from Thursday’s 4.554%, while the five-year Treasury yield closed at 4.525%, down from Thursday’s 4.572%.
The total market value of the cryptocurrency industry was down 2.2% in the last 24 hours to $2.52 trillion. The total trading volume decreased by 6.6% to $77.43 billion. # Bitcoin Price Depreciation Drags Crypto Market Cap to $2.534T
