Crypto Market Cap Loses 11% as Bitcoin, Ethereum Plunge Sharply
Bitcoin’s huge loss dragged global crypto market capitalisation downward by about 11% in 24 hours as euphoria over Donald Trump’s election win began to simmer. Today, Bitcoin (BTCUSD) dropped to $92,000 range following massive profit takings. Other crypto assets also tracked lower, with Ethereum losing more than 20% within seven days.
ETH-USD is trading at $3,115 in the crypto market at the press time. According to data from CoinMarketCap.com, the global crypto market cap settled at $3.16 trillion on Thursday, a 10.99% decrease over the last day.
The total crypto market volume over the last 24 hours printed at $312.96 billion, which makes a 18.24% increase as retail selloffs persisted. Also, the total volume in DeFi was $20.75 billion, accounting for 6.63% of the total crypto market 24-hour volume traded in the market.
The volume of all stable coins is now $293.69 billion, which is 93.84% of the total crypto market 24-hour volume, according to data from the exchange. Major digital assets slumped Thursday, with Bitcoin (BTC-USD) slumping below $97,000. The CoinDesk Market Index, which tracks 126 digital assets, tumbled 6.8%.
The Nasdaq 100 and the S&P 500 both edged up 0.1% in late trading, while the Dow Jones Industrial Average gained 0.2%. Bitcoin fell 3.7% at $96,962, according to CoinMarketCap data. The most popular digital currency’s 24-hour trading volume increased 18% to $100.48 billion.
Ethereum (ETH-USD), the second-largest digital asset by market value, dropped 8.2% to $3,388. XRP (XRP-USD) shed 3.7%, while BNB (BNB-USD) lost 4.4%.
Solana (SOL-USD) tumbled 6.6%, Dogecoin (DOGE-USD) fell 12%, and Cardano (ADA-USD) slumped 1`%. The US 10-year Treasury yield closed at 4.568%, up from Wednesday’s close of 4.49%, while the five-year yield rose to 4.423% from 4.376%. #Crypto Market Cap Loses 11% as Bitcoin, Ethereum Plunge Sharply #Nigeria Treasury Bills Yield Shrinks 2bps to 25.6%
