The fall in the value of systemically important cryptocurrencies, Bitcoin and Ethereum, caused a general decrease in the value of altcoins, which reacted sharply to the trend. The average daily decrease in the value of digital currencies included in the top ten by capitalization level, amounted to almost 11%. The leaders in decline were: ETH by 18.7%, ADA by 17.8% and XPR by 16.1%
The cryptocurrency market capitalization fell by $430 billion over the week, to $2.38 trillion. Over the same period, BTC's market capitalization fell 7.5% to $1.24 trillion.
Currently, Bitcoin is trading at $62,900–$63,640, showing a moderate trend toward value stabilization.
Over the past 24 hours it has been liquidated about 250,000 trader positions, their total amount exceeded $664 million. The largest position was liquidated on the OKX exchange: $12.25 million.
Note that on Monday, March 18, the BitMEX exchange experienced a failure for yet to be determined reasons, and the cost of the first cryptocurrency suddenly dropped to $8,900. The site administration announced the beginning of an investigation into the incident.
Source: Bits
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