Bitcoin fell sharply on Monday, with the world’s largest cryptocurrency plunging more than 12%, dragging down others as a result of which the overall capitalization of the cryptocurrency market fell below the level of $ 1 trillion for for the first time since the beginning of 2021.
In particular, the price of bitcoin fell by almost 13% and is moving at noon on Monday (13:40 Greek time) at the level of 23,921 dollars, according to data from CoinDesk, sliding to the lowest level since December 2020. The largest cryptocurrency of the planet has plunged about 50% since the beginning of this year.
The strong fall of bitcoin drags lower and the rest of the cryptocurrencies. In particular, Ethereum “loses” more than 15% and moves to $ 1,240.76, Binance falls more than 12% to $ 226.71, XRP with losses of 9.4% moves to $ 0.315, while Solana with more than 15% “dip” falls to $ 27.80 and Cardano falls more than 11% to $ 0.458.
The new sell-off in cryptocurrencies, which began over the weekend and continues on Monday, has evaporated more than $ 200 billion from the total capitalization of the cryptocurrency market, which fell below 1 trillion. for the first time since January 2021, according to CoinMarketCap figures, reaching $ 926 billion before recovering
The global cryptocurrency market peaked at 2.9 trillion. dollars in November 2021, but since then has been declining with the slump intensifying in the last two months, costing the market only this period 1 trillion. dollars in value, as investors abandon the riskier assets in the face of high inflation and fears that interest rate hikes by central banks will hamper growth.
Source: Capital
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