The total market capitalization of the digital asset industry has decreased by 6.9 percent in the last 24 hours. For the first time in more than three months, the stock market fell below $ 2.1 trillion, and losses on Thursday morning rose sharply in the Asian trading session.
$ 200 billion worth of waste comes out of Crypto Market, Trading View reports.
Leading up to Crypto Mers loss
When Bitcoin comes to the cryptocurrency market, it is the PEP Piper, followed by the rest. BTC dropped 6.3% to $ 43,370 a day during the harvest season. The stock is down 37% from its current high of $ 69K on November 10 and is at its lowest level since the end of September. The $ 40,000 zone is a key level of support and risk.
The world’s second-largest cryptocurrency, Ethereum, is in pain today, falling 7.6% to $ 3,520 in the last 24 hours. ETH prices are now down 28% from their previous high of November which can be seen as a healthy correction with no further losses.
Other cryptocurrencies in the red this morning include Binance Coin (BNB) from 8.4% to $ 470, Solana (SOL) 10% slide to $ 150, Cardano (ADA) and Ripple (XRP) with 7% drop and Polkadot. (DOT) 10.5% daily pain.
No one is safe from today’s disaster, and even some stable coins have been temporarily removed from their stakes.
FED behind the accident?
Crypto markets are inherently volatile and such daytime failures are very common. However, there may be some factors that influence the market.
The US Federal Reserve confirmed in a December meeting that the central bank has begun to bear fruit in the wake of this year’s interest rate hike. The Hawkish change caused global stock markets to turn red by the end of Wednesday, and the downturn continued on Thursday in all Asian markets.
Scott Minder, chief investment officer at Global Guggenheim Partners, described it as a “financial risk recipe”.