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BTC
$79,268.52
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4.93%ETH
$1,575.22
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11.42%USDT
$0.9995
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0.01%XRP
$1.9128
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12.68%BNB
$557.84
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6.04%USDC
$0.9999
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0.00%SOL
$107.88
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10.29%TRX
$0.2281
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5.43%DOGE
$0.1497
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12.18%ADA
$0.5825
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11.68%LEO
$8.9625
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1.34%TON
$3.0502
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7.06%LINK
$11.43
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9.95%XLM
$0.2312
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9.35%AVAX
$16.61
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6.85%SHIB
$0.0₄1144
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6.31%SUI
$2.0328
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10.49%OM
$6.3480
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0.85%HBAR
$0.1462
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10.03%BCH
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Crypto Market Cap Falls Below $1T for First Time Since Early 2021
Bitcoin lost some 13% of its value in the past 24 hours.
The market capitalization for cryptocurrencies fell by some 12% in the last 24 hours to nearly $970 billion on Monday morning, data from CoinMarketCap shows.
- A similar capitalization was previously seen in January 2021, data shows. In the past 24 hours, bitcoin (BTC) lost 13% while ether (ETH) slid 17%.
- Bitcoin dominance increased to over 47% over the weekend, suggesting investors held bitcoin and risked off from alternative cryptocurrencies.
- The fall came amid a decline in global stocks after poor U.S. consumer price index data for May was released last week. Inflation rocketed to over 8.3% on a year-on-year basis, denting investor sentiment.
- Bitcoin has declined for nearly 12 straight weeks, marking one of the asset’s biggest slides in its lifetime.
Shaurya Malwa
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis. Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA. He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
