Connect with us

Bitcoin

The Crypto Economy is hit hard by market downturn and Bitcoin price drops more than 25% in just 30 days

Crypto Economy Loses Billions in Market Downturn, Bitcoin Price Slips More Than 25% in 30 Days

A great number of cryptocurrencies dropped considerably in value during the early morning hours (after 12: 00 a.m. EST) on December 4. At the time of writing, the crypto economy is down more than 16% and the price of bitcoin slid below the $50K zone to a low of $43,972 per unit. Since then, bitcoin has managed to climb back to just above the $47K per unit position.

Crypto Economics Value Dives

Digital currency markets have lost significant value during the last 24 hours as billions have left the crypto economy in a matter of hours. Currently, the crypto economy and its 11,388 coins in existence have lost more than 16% in USD value. Bitcoin (BTC) slipped from the $53K per unit region to $43.9K during the first hour of Saturday morning.

Crypto Economy Loses Billions in Market Downturn, Bitcoin Price Slips More Than 25% in 30 Days
BTC/USD on Saturday, December 4, 2021.

The downward slide took BTC down 17. 16% but the crypto asset has since regained 7. 28% following the market carnage. BTC has managed to rise above the $47K region and has an overall market valuation of around $895 billion. Seven-day statistics indicate bitcoin (BTC) has lost 11.5% but 30 day stats show the price is down 25.2%.

Crypto Economy Loses Billions in Market Downturn, Bitcoin Price Slips More Than 25% in 30 Days
ETH/USD on Saturday, December 4, 2021.

The second-largest market valuation, held by ethereum (ETH), lost 13.9% during the last 24 hours but seven-day metrics indicate ether is only down by 2.2% after reaching its all-time high (ATH) last week. The biggest loser in the top ten was dogecoin (DOGE) as it shed 21.9% in 24 hours. Polkadot (DOT) lost 21.7%.

Crypto Economy Loses Billions in Market Downturn, Bitcoin Price Slips More Than 25% in 30 Days
The crypto economy’s 11,000+ assets shed billions, losing more than 16% in value across the entire ecosystem.

While solana (SOL) is up 0.6% for the week, SOL lost 18.2% during the crash. XRP took a 19.8% dive and cardano (ADA) slipped 17.5% during the last 24 hours. Binance coin (BNB) was the only top ten contender to manage to stave off the losses as it only shed around 12.7% during the drop.

BTC‘s market dominance today is 38.4% of the crypto economy while ethereum (ETH) commands 20.2%. Ether has a market capitalization of around $470 billion at the time of writing. Today there is $243.8 billion in global trade volume and stablecoin volume captures $147 billion worth of those trades.

The stablecoin economy’s overall valuation today is $156 billion or 6. 67% of the $2. 32 trillion crypto economy. Despite the fact that many coins have lost significant value, except for stablecoins (XEC), ecash (XEC), is still up 7.2%.

Today’s biggest losers include fantom (FTM) down 27.7%, and theta network (THETA), which dropped 27% during the crypto market slide.

What do you think about the recent crypto market downturn? Plan B Says Bitcoin Price Still 'on Track Towards $100K' Despite Missing November's Price Prediction

243 What do you think of the recent crypto market downturn?

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services discussed in this article.

Read More

Bitcoin

Fundstrat’s Tom Lee Predicts Bitcoin Bull Market Surge Due to Supply Shock

Tom Lee, CIO of Fundstrat Capital, a financial research firm, has predicted that the bitcoin bull market will continue in December and announced that the first cryptocurrency will reach “well over $100,000” by year-end. Tom Lee Forecasts Bitcoin Reaching $100,000 By Year’s End in All-Asset-Encompassing Bull Market The bull market predictions for bitcoin prices keep [……
Read More

Continue Reading

Bitcoin

Cobra Warns of a New Bitcoin Soft Fork Next Year

Cobra, the operator and owner of the bitcoin.org domain, has alerted the community about a new development in the bitcoin world. He stated that unidentified bitcoiners outside of Bitcoin Core are preparing to introduce a user-activated soft fork (UASF) next year. Cobra Alerts About New Bitcoin Soft Fork Brewing in the Shadows A new conflict [……
Read More

Continue Reading

Bitcoin

‘They Have No Idea What They Own’: Space Force Major Condemns US Bitcoin Sale

In recent months, the idea of a U.S. strategic bitcoin reserve has stirred animated discussions, fueled further when the government moved nearly 20,000 bitcoins from its wallets. The transaction prompted a United States Space Force major, who is deeply involved in exploring bitcoin’s role in national security…
Read More

Continue Reading

Trending

Copyright © 2017 Zox News Theme. Theme by MVP Themes, powered by WordPress.