LAST UPDATE: 17.20
Bitcoin plunged sharply on Monday, with the world’s largest cryptocurrency plunging 15%, dragging down others as the overall cryptocurrency market capitalization fell below $ 1 trillion. for the first time since the beginning of 2021.
In particular, the price of bitcoin fell 15% and moved on Monday afternoon (17:20 Greek time) to the level of 23,325 dollars, according to data from CoinDesk, sliding to the lowest level since December 2020. Its largest cryptocurrency 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” 16.5% and moves to $ 1,225.20, Binance falls about 15% to $ 220.90, XRP with losses of 2.3% moves to $ 0.36, while Solana loses 15% to $ 26.79 and Cardano drops more than 12.5% to $ 0.449.
The new sell-off in cryptocurrencies triggered the movement of the Celsius Network cryptocurrency exchange to freeze withdrawals and transfers, citing “extreme” market conditions, in another indication of the “tectonic” effects that turmoil has on the cryptocurrency universe. in the financial markets.
The cryptocurrency market has lost more than $ 200 billion over the weekend and today, with continued sell-offs leading to total crypto capitalization 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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