Cryptocurrency market left behind the week it suffered one of the biggest losses. While losses continue in Bitcoin and Ethereum, there is a different trend in the market from other bearish periods.. Details are in our news.
The market value of these coins has exceeded $100 billion
The blood loss continues in the cryptocurrency market. After the market drop, the total value of the cryptocurrency market is $ 1.35 trillion. This value was around $2.6 trillion just 20 days ago.
The market tried to strengthen on Friday and Saturday.. However, this attempt was not successful and Bitcoin, the engine of the crypto money market, lost 9.61% value and traded at $ 33,900 on Sunday.. Weekly loss in Bitcoin is 29%. The market value of Bitcoin over $ 1 trillion has decreased to $ 629 billion with the decrease in the recent days.. The market dominance of Bitcoin is 45.9%.
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The image is similar to Bitcoin in Ethereum if it is 15% weekly in the last 24 hours. The cryptocurrency, which has lost 45% of its value, is momentarily trading at just under $2,000 at $1,953.. Ethereum dominance rate is 17.3%.
The biggest weekly loss among the top ten cryptocurrencies is Polkadot (DOT) with 60% and Binance (BNB) with 58.56%.
Popular economist Alex Krüger stated that there was a bear market and sellers surrendered.
“This is what a bear market feels like. Sellers are capitulating, spot positions are being liquidated, Bitcoin futures are moving backwards.
On the other hand, the market value of stablecoins exceeded $ 100 billion as the crypto market continues to decline.. Tether (USDT) has the largest valuation today at $59 billion and Usd coin (USDC) has a valuation of around $19.9 billion. In this case, Tether became the third most valuable cryptocurrency in the overall ranking.
The Block Crypto Research Director Larry Cermak drew attention to this rise.
“Compared to the previous one, it is the most valuable cryptocurrency of this cycle. One of its strengths is that people don’t withdraw that much cash, but instead tend to hold on to stablecoins.”
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