Business

Crypto Economy Market Cap Drops Below $800 Billion For First Time Since December 2020 – Markets & Prices Bitcoin News

Global cryptocurrency market capitalization fell below the $800 billion territory for the first time in 691 days or for the first time since December 30, 2020. It fell 7.61% on Monday to break below the $1,100s.

The crypto economy fell more than 4% in the previous day, with bitcoin below $16,000 and ethereum below $1,100

Cryptocurrencies were rocky on Monday as the overall market capitalization of digital assets fell 4.37% from the previous day. Additionally, the USD valuations of all existing crypto assets have fallen below the $800 billion zone, the lowest since December 30, 2020.

Crypto Economy Market Cap Drops Below $800 Billion For First Time Since December 2020
The last time the crypto economy dipped below the $800 billion zone was December 30, 2022. On that day, the global market capitalization of all crypto assets in existence was around $760.73 billion.

Cryptocurrency trading volume increased from $150 billion to $225 billion during the FTX market turmoil, but global trading volume surged to $66.66 billion in 24-hour trading volume on November 21, 2022. decreased to It dipped below the $16,000 range on Monday and is currently trading well at $15,721 per unit at 3:30 PM ET.

Crypto Economy Market Cap Drops Below $800 Billion For First Time Since December 2020
BTC/USD via Bitstamp on Nov 21, 2022.

Ethereum (ETH) is trading at $1,091.14 per unit after losing 7.61% USD value over the past 24 hours. Monday’s biggest losers included Near Protocol (NEAR), down 12.6%, Terra Luna Classic (LUNC), down 11.1%, and Solana (SOL), down 10.7% in 24 hours.

Crypto Economy Market Cap Drops Below $800 Billion For First Time Since December 2020
ETH/USD via Bitstamp on Nov 21, 2022.

Coins such as huobi (HT), ethereumpow (ETHW) and apecoin (APE) rose between 1.7% and 7.3% today, with HT leading the way. Currently, BTC’s dominance in digital assets across the crypto-economy is 38.7% on Monday, while ETH’s dominance is 17.1%.

When it comes to global trade volume on Monday, Tether (USDT) dominates the book with $53.73 billion out of $66.66 billion in global trade volume. Moreover, USDT’s dominance increased to 8.102% of him as the crypto-economy valuation contracted on Monday.

The market value of US Dollar Coin (USDC) is equivalent to 5.485% of the crypto-economic value of $786.27 billion on November 21, 2022. In addition to crypto assets, the US stock market has trembled with all four of his major indices (NYSE, Nasdaq, Dow). , the S&P 500) fell for most of Monday’s trading session.

Precious metals fell on Monday, with gold down 0.69% and silver down 0.48%. Platinum happened to be up 0.41% against the US dollar, while palladium fell 3.74% in New York spot prices today. By 4:15pm ET on Monday, BTC’s price had risen to $15,900 and ETH’s value had crossed the $1,100 zone.

Tags for this story

APE, Bitcoin (BTC), Bitcoin Price, BTC, BTC Dominance, Stock Market, Ethereum, Ethereum (ETH), Ethereum Dominance, Ethereum Price, ETHW, Gold, HT, LUNC, Trading Monday, NEAR, Nov 21 Day, Solana, Stock Indices, Tether Dominance, Trading Volume, Trading Session

What do you think about the crypto economy falling below the $800 billion mark? Let us know what you think about this in the comments section below.

Jamie Redman

Jamie Redman is a news lead for Bitcoin.com News and a financial technology journalist based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written over 6,000 articles for Bitcoin.com News about disruptive protocols currently emerging.




image credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. NEITHER THE COMPANY NOR THE AUTHOR WILL BE LIABLE, DIRECTLY OR INDIRECTLY, FOR ANY DAMAGE OR LOSS ARISING OR ALLEGED TO OCCUR ARISING OUT OF OR RELATING TO YOUR USE OF OR RELIANCE ON ANY CONTENT, PRODUCTS OR SERVICES DESCRIBED IN THIS ARTICLE. We are not responsible.



Crypto Economy Market Cap Drops Below $800 Billion For First Time Since December 2020 – Markets & Prices Bitcoin News

Source link Crypto Economy Market Cap Drops Below $800 Billion For First Time Since December 2020 – Markets & Prices Bitcoin News

Related Articles

Back to top button