Crypto Market Capitalisation below $2T as Bitcoin, Ethereum Fall
Market value of all cryptocurrencies declined sharply during early trading hours on Wednesday due to sustained Bitcoin, Ethereum selling rally.
Crypto assets holders have been taking profit from Bitcoin, and other leading digital coins in what appears like profit takings moves by short sellers.
Bitcoin is trading at $56, 500 while Ethereum is quoted at $2400, both are negative on price line, according to data sampled from various exchanges.
According to data from CoinMaketCap.com, the global crypto market cap settle lower at $1.99 trillion, representing a 4.27% decrease over the last day.
The exchange reported that total crypto market volume over the last 24 hours increased by 41.53% to $70.81 billion on Wednesday.
The total volume in DeFi is currently $3.56 billion, according to CoinMarketCap.com, representing 5.03% of the total crypto market 24-hour volume.
Further analysis showed that the volume of all stable coins is now $65.79 billion, which is 92.91% of the total crypto market 24-hour volume
Yesterday, most major digital assets fell, with bitcoin (BTC-USD) dropping below the $58,000 level. The CoinDesk Market Index, which tracks 134 digital assets, dropped 1.2%.
The Nasdaq 100 was down 3%, the S&P 500 shed 2%, and the Dow Jones Industrial Average dipped 1.4%.
Bitcoin (BTC-USD) was 1% lower at $57,986 with a 24-hour trading volume of $27.6 billion, down 0.2%, according to CoinMarketCap data.
Ethereum (ETH-USD), the second-largest digital asset, shed 2.8% to $2,454.
BNB (BNB-USD), the third-largest digital asset by market value excluding stablecoins, gained 0.4%, while Solana (SOL-USD), the fourth-largest, dipped 1.4%.
XRP (XRP-USD) was down 0.5%, Dogecoin (DOGE-USD) slipped 0.3%, and Cardano (ADA-USD) lost 2.5%
The US 10-year Treasury yield closed at 3.84%, down from 3.911%, while the five-year yield closed at 3.653%, down from 3.715%.
On Tuesday, the total market value of the cryptocurrency industry decreased 1.3% to $2.03 trillion. Trading volume shrank 4.9% to $57.32 billion. #Crypto Market Capitalisation below $2T as Bitcoin, Ethereum Fall
Dangote Industries Emerges as Most Valuable Brand in Nigeria for 7th Time
