Bitcoin Drags Cryptocurrency Market Down to $2.12 Trillion
The latest Bitcoin’s huge price decline has dragged the market cap of all cryptocurrency down to $2.12 trillion, according to data from crypto exchanges.
On Monday, the market have mixed posture with seesaw movement in top 10 cryptocurrency assets, though negative price trends appear to have eased compared with last week experience.
According to data obtained from CoinMarketCap.com, the global crypto market cap increased by 0.45% to $2.12 trillion over the last day. This followed a 38.25% surge in the total crypto market volume over the last 24 hours which settled at $75.9 billion.
Also, the total volume in DeFi traded settle at $5.21 billion, which accounted for 6.86% of the total crypto market 24-hour volume.
The volume of all stable coins is now $70.42 billion, which is 92.77% of the total crypto market 24-hour volume, according to CoinMarketCap.com
On Friday, most major digital assets slumped with bitcoin (BTC-USD) sinking below $57,000. However, the largest digital asset has recovered around $57,500, lost about 9% of its market value in the last seven trading sessions.
Bitcoin (BTC-USD) had fallen to $56,652 after earlier touching $53,717 on Friday. Ethereum (ETH-USD), the second-largest digital asset, shed 4.6% to $2,992 and was heading for a weekly slump of more than 11%.
BNB (BNB-USD), the third-largest digital asset by market value excluding stablecoins, lost 5.3%, while Solana (SOL-USD), the fourth-largest, was up 0.5%.
XRP (XRP-USD) dropped 3.8%, Cardano (ADA-USD) slid 7.4% and Dogecoin (DOGE-USD) was 3.5% lower. Toincoin (TON-USD) was up 0.4%.
The US 10-year Treasury yield closed at 4.271%, down from Wednesday’s close of 4.357%, while the five-year yield closed at 4.216%, down from 4.324%.
The total market value of the cryptocurrency industry shrank 3.4% in the past 24 hours to $2.06 trillion. Trading volume soared 42% to $135.29 billion. Oil Rallies for 4-Week Ahead of OPEC, EIA Reports
