Cryptocurrencies Sink, Bitcoin, Ethereum Trade Lower
Cryptocurrencies

Cryptocurrencies Sink, Bitcoin, Ethereum Trade Lower

Bitcoin (BTCUSD), the largest cryptocurrency by market value, slipped 4.3% in the past 24 hours to $19,775, according to CoinDesk data. Trading volume was at $24.29 billion, up 7%. Market capitalisation inched lower to $878 billion at the press time.

The recent drop expanded the most popular cryptocurrency’s year-to-date slump to 57%, compared with 27% for the tech-heavy Nasdaq 100 index and 19% for the S&P 500 index. READ: Bitcoin Crash Creates Casualties, 30,000 Millionaires Sink

Ethereum (ETHUSD), the second-largest digital asset, sank more than 7% to $1,065, also extending its 2022 loss to 71%. XRP (XRPUSD) and Solana (SOLUSD), the fifth- and sixth-largest digital assets, retreated more than 3.2% and 4.9%, respectively.

The day’s top loser on the CoinDesk list was Cosmos (ATOMUSD), the 15th-largest digital asset, with a decrease of more than 10%.

The overall market capitalization of the cryptocurrency industry dropped 3.9% in the past 24 hours to $920 billion, according to CoinGecko data. # Cryptocurrencies Sink, Bitcoin, Ethereum Trade Lower