Just Above $1 Trillion — Crypto Economy’s Value Slips Lower Than the Lows Recorded Last July – Markets and Prices Bitcoin News


The $1.19 trillion crypto economic system is now decrease in worth than the lows recorded in July 2021. Over the last week, digital currencies like bitcoin, ethereum, caradano, and xrp, have shed important worth towards the U.S. greenback, as the highest cryptos have misplaced 50% to greater than 80% from their all-time worth highs.

How Low Can the Crypto Financial system Go?

It hasn’t been an incredible week for crypto belongings, as the highest ten digital currencies are down between 4% to fifteen% over the past seven days. Bitcoin (BTC) has misplaced 4.6% in worth this week, whereas ethereum (ETH) has dropped by greater than 14%.

BNB is down 9.7% this week and ADA has solely dropped by 0.7% in the course of the previous seven days. XRP has misplaced 7.4%, SOL dipped by 11.6%, and the tenth-largest market cap dogecoin (DOGE) has dropped by 13.6% this week.

Presently, the crypto economic system is valued at $1.19 trillion because it has misplaced 6.1% over the past day alone. This worth is decrease than the lows recorded in July 2021, when the market cap tapped a low of $1.32 trillion that month. The final time the complete crypto-economy was valued this low, was the primary week of February 2021.

At the moment on February 6, 2021, BTC was buying and selling for $39,405 per unit, ETH exchanged palms for $1,665 per unit, and XRP traded for $0.43 per coin. Presently, these coin values are decrease than they had been in the course of the first week of February.

Different high cash had been decrease in worth than they’re immediately. As an example, avalanche (AVAX) exchanged palms for $16.42 on February 6, 2021. As we speak, AVAX is buying and selling for $20.04 per unit.

In February 2021, solana (SOL) was $6.05 per unit and immediately it’s altering palms for $33.84. Furthermore, terra (LUNA) was buying and selling for $2.74 up 86% in the course of the first week of February 2021, however immediately it’s only value $0.00006805 per unit.

Presently, the Crypto Worry and Greed Index (CFGI) exhibits “excessive concern” is within the air immediately, so far as crypto sentiment is anxious. On the time of writing, the CFGI signifies the “excessive concern” rating is a “12” in comparison with yesterday’s rating of “13.”

Google Tendencies (GT) information exhibits search curiosity for the time period “bitcoin” has dropped worldwide by greater than half for the reason that search time period’s peak. GT information for the search time period “cryptocurrency” is even worse, as search curiosity has lagged to a recent new low of three out of 100.

Tags on this story

Avalanche, Bitcoin, Cardano, Crypto, crypto belongings, crypto economic system, crypto values, Cryptocurrencies, Digital Currencies, Ethereum, Market Caps, Market Valuation, Solana, XRP

What do you concentrate on the crypto economic system dropping decrease than the lows recorded final summer season? Tell us what you concentrate on this topic within the feedback part under.

Jamie Redman

Jamie Redman is the Information Lead at Bitcoin.com Information and a monetary tech journalist residing in Florida. Redman has been an energetic member of the cryptocurrency group since 2011. He has a ardour for Bitcoin, open-source code, and decentralized purposes. Since September 2015, Redman has written greater than 5,000 articles for Bitcoin.com Information concerning the disruptive protocols rising immediately.

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