The collapse of the market continues - the largest cryptocurrencies have lost up to 30% of the price per day
On January 20, 2022, all major cryptocurrencies stopped rising in price and began to fall sharply in price. The key reasons are the decrease in the S&P 500 index by 1% and the plans of the Central Bank of Russia to limit the production and circulation of digital money. The day before, the S&P 500 index fell by 2%, and the market sank even more.
January 21, 2022 Bitcoin price for the first time since last summer fell below $39,000. Over the past 24 hours, the main cryptocurrency has fallen in price by more than 10% and now its price is about $35,000. Over the week, the rate has dipped by 18%. Capitalization fell to $672 billion.
Rolling on one and Ethereum. The second largest crypto asset by capitalization has lost almost 16% of its value over the past day. Now it is trading at around $2,400. The cryptocurrency has already fallen in price by 28% over the week.
BNB fell to $348 per coin (-19% / -29%), Cardano fell to $17.40 (-17% / -19.5%), and Solana fell to $98.84 (-20.35% / - 31.96%). TERRA, Shiba Inu and Avalanche lost almost 30% in price in the last 24 hours. At the same time, the meme cryptocurrency fell by 40% in a week.
Dogecoin is also becoming less and less attractive asset. Its price has decreased by almost 17% (-32.27% for the week) and is less than $0.13. The cryptocurrency market sank almost 10% overnight and is now valued at $1.66 trillion, although two months ago, for the first time in history, the total capitalization exceeded $3 trillion.
A source: CoinMarketCap
