Bitcoin Slide Show Drags Crypto Market Down to $2.08 trillion
The total market value of the cryptocurrency industry decreased 0.9% in the past 24 hours to $2.08 trillion, according to data from Coinmarketcap.com showed.
The slump was propelled by selloffs in Bitcoin, the world’s largest crypto asset, accounting for more than half of the entire industry’s value.
Bitcoin is trading below $59,000 across crypto exchange, down by 0.08% over the last 24 hours in the market. The crypto asset had declined strongly due to U.S recessions fear that triggered selloffs among retail investors.
In the last seven days, Bitcoin has however gained 6.73% from value it had previous lost. At the press time, the largest and the most value asset is exchanging hands at $58.845, based on data from CoinMarketCap.com.
Ethereum is also trending negative at $2,635 after losing 0.03% over the day The total crypto market volume over the last 24 hours reached $79.2 billion, which makes a 21.26% increase.
The total volume in DeFi is currently $3.78 billion, according to market data, representing 4.77% of the total crypto market 24-hour volume.
The volume of all stable coins is now $73.19 billion, which is 92.40% of the total crypto market 24-hour volume. Bitcoin’s dominance has increase by 0.02% to 55.96% the day.
BNB is however moving positively, up by 0.40% to $522.68. Most major digital assets were mixed on Monday, with bitcoin (BTC-USD) hovering near the $59,000 level. The CoinDesk Market Index, which tracks 134 digital assets, fell 0.7% in the past 24 hours.
The Nasdaq 100 was flat, while the S&P 500 and the Dow Jones Industrial Average shed 0.2% and 0.5%, respectively. Bitcoin (BTC-USD), the most popular cryptocurrency, dipped 1% to $59,106 with a 24-hour trading volume of $38.67 billion, surging about 109%, according to CoinMarketCap data.
Ethereum (ETH-USD), the second-largest digital asset, climbed 2% to $2,657. BNB (BNB-USD), the third-largest digital asset by market value excluding stablecoins, edged down 0.3%, while Solana (SOL-USD), the fourth-largest, fell 1.9%.
XRP (XRP-USD) gained 1.3%, Dogecoin (DOGE-USD) was 1.7% higher, while Cardano (ADA-USD) was 0.1% softer. The US 10-year Treasury yield closed at 3.907%, down from Friday’s close of 3.944%, while the five-year yield closed at 3.749%, down from 3.798%. #Bitcoin Slide Show Drags Crypto Market Down to $2.08 trillion
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