Total Bitcoin Market Cap Drops Below $1 Trillion & Liquidation of $2 Billion
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Answer Total Bitcoin Market Cap Drops Below $1 Trillion & Liquidation of $2 Billion
The current correction in the crypto market and the BTC drop to $52,500-$53,000 has hurt the altcoin prices.
The Ethereum coin fell below $1600, and then rebounded in the past few hours to the $1613 level.
Most of the other altcoins were also affected by the current drop in the price of Bitcoin.
coins Alternative digital swims in a red sea:
A few days ago, the altcoin market looked healthy with many of them making good gains, such as the cryptocurrency THETA.
The rise of the digital currency “Theta” by 20000% in a year and its penetration of the top 10 list!
Read:Bobby Lee launches a new cryptocurrency wallet
The Ethereum currency, despite the negativity of the rise in gas fees, was able to rise above the $1700 level, and even reached the $1,740 level.
But the situation has completely changed in the past 24 hours.
The sudden price drop caused $200 to evaporate from the value of Ethereum, as the coin’s price dropped to the lowest in the last 24 hours at $1,550.
Although some value has been restored, Ethereum is still far from the highs recorded earlier.
Red dominates the rest of the altcoins.
Binance Coin Drops 6.5%, Cardano Down 3%
Polkadot coin fell 13% to below $31, Ripple fell 10% to below $0.55, and UNI fell 12%.
In total, the total market capitalization witnessed a loss of 125 billion dollars in one day as the total value of the crypto market at the time of publication of this article is estimated at 1.65 trillion dollars.
BTC loses more than 5 thousand dollars:
After “Elon Musk” announced the news of Tesla’s support to buy its electric cars with Bitcoin, the price of Bitcoin interacted and rose to the level of 57 thousand dollars, but it was not able to continue rising and reversed its direction down to the level of 52 thousand dollars, i.e. a decrease equivalent to almost 5000 dollars in 24 hours. Last.
Read:Ripple and MoneyGram partnership expands and enters the Indian market
More interesting is the drop in the total value of Bitcoin below $1 trillion, with the total market value of Bitcoin estimated at $988 billion.
According to Bybt data, the high volatility has caused more than $2 billion in liquidations across the market since yesterday.
In the last 12 hours, the liquidation amounted to more than 1.6 billion dollars.
Read also:
SEC refuses to hand over Bitcoin and Ethereum documents to Ripple
Fidelity Investment Company Submits Application for Bitcoin ETF Approval
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