Crypto market
Crypto market

Crypto market loses $80 billion in a day as Bitcoin drops below $50k

Crypto market loses $80 billion in a day as the price of flagship currency drops below $50k. The market cap of the crypto market dropped from $2.394 trillion to $2.311 in a day, according to CoinMarketCap.

Flagship currency is consolidating for the last two weeks as the price of the asset hovers around $50k. The price of the primary coin has a huge impact on all other assets. Even though BTC is up by 1.18% from the previous week but it has dropped below critical $50k. With a market capitalization of $931 billion, Bitcoin has exchanging hands at the price of $49,166. This drop in the price of BTC has impacted the whole market.

Crypto market loses

Crypto market loses $80 billion in a day:

The Crypto market loses $80 billion in a day, according to a crypto aggregation website, CoinMarketCap. The crypto economy has shrunk by 3.28% following the drop of the market cap from $2.304 trillion to $2.311 trillion.  Despite a decline in total market capitalization, the entire volume of the crypto market has increased by 34.09 %, totaling $99.45 billion. The total volume of DeFi is $17.76 billion.

Crypto market loses

With the price of Ethereum, the second-largest digital currency by market capitalization, currently trading below $4,000 at $3,905, it has fallen 3.78 percent in the past 24 hours and 2.87 percent over the previous seven days, bringing its market value to $463 billion. As the crypto market losses $80 billion, the top ten digital assets in the market are trading in the red. BTC still has the authority and the impact on the crypto market.

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About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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