Over $140 billion in value evaporated into thin air, as Bitcoin also lost as much as $7,000, according to data retrieved from Coin360.
The crypto market recently lost much of its weekend’s stellar gains, as significant selling pressure pushed the value of crypto assets lower across the market spectrum, amid record sell-offs and sudden panic among retail and institutional traders.
At press time, over $140 billion in value evaporated into thin air, taking into consideration the world’s most popular crypto, Bitcoin, the dominant player in the crypto market, lost as much as $7,000, according to data retrieved from Coin360.
The global crypto market value is $1.57 trillion, an 8.98% decrease over the last day.
The total crypto market volume over the last 24 hours is $232.12 billion, which makes a 63.54% increase.
- The total volume in DeFi is currently $21.16 billion, 9.12% of the total crypto market daily volume.
- The volume of all stable coins is now $185.65 billion, which is 79.98% of the total crypto market 24-hour volume.
- Bitcoin’s price is currently $52,260.20.
- Bitcoin’s dominance is currently 61.56%, a decrease of 0.03% over the day.
- For the day, 426,586 trades were liquidated.
- The largest single liquidation order happened on Huobi-BTC valued at $20.66 million.
Other leading crypto assets that include Ethereum, Litcoin, Chainlink, Binance coin and Stellar lost more than 8% in value.
Despite the expected market correction ongoing in the crypto community, some crypto traders remain upbeat that cryptocurrencies are fast emerging as a hedge for risks such as faster fiat inflation, and set to win more attention from the corporate world.
However, crypto pundits anonymously interviewed by Nairametrics are saying that a market correction was long overdue after the sudden bullish move. The bearish trend prevailing at the bitcoin market is largely attributed to a significant amount of profit-taking in play, on the account that Bitcoin’s realized profits are at record highs.
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