Investors’ money is disappearing in the “crypto” market amid shocking losses
Cryptocurrencies continued the wave of violent losses that coincided with the announcement of the “FTX” platform, its bankruptcy during the past hours. Accumulated losses deepened, reaching $2.396 trillion, while “Bitcoin,” which is the most well-known and widespread in the digital currency market, fell to the level of $15,000, compared to around $68,000 in November last year.
While the bankruptcy of the famous cryptocurrency platform FTX raised a strong question about the possibility of regulating the crypto market to preserve the money of dealers. After the collapse of the most famous platform, calls from market clients from all over the world escalated for the need to regulate “crypto” in anticipation of a complete loss of money and investment.
Currently, FTX cryptocurrency exchange is investigating unusual movements in portfolio transactions after more than 260 million cryptocurrencies were withdrawn from the platform after the bankruptcy. Digital currency market, as it is one of the largest and most famous cryptocurrency exchanges.
At the same time, in terms of negative expectations, JPMorgan predicted a few days ago that the cryptocurrency Bitcoin will continue to fall and reach $13,000, with more investors having to cover their exposed positions due to recent declines.
In terms of trading, since the highest value recorded by the market last November, the total market value of encrypted digital currencies has fallen by 74.8 percent, losing about $2.396 trillion, after their total market value fell from the level of $3.2 trillion at about $805 billion at the moment. .
Bitcoin falls to $15,000
At the head of the losing digital currencies came the currency “Bitcoin”. From its peak last November, the currency has fallen 76.6 percent, losing about $52,391, after its price fell from a high of $68,354 to about $15,963 currently, and its combined market value fell by 76 percent, losing about After a drop of $976.2 billion. It decreased from the level of 1282.8 billion dollars to about 306.6 billion dollars, which is about 38.08 percent of the total market value of cryptocurrencies that are currently traded.
Ethereum, which ranked second on the list of the largest cryptocurrencies by market value, recorded losses of 75 percent, losing about $3,549, after its price fell from $4,732 to about $1,183, and its total market cap the value decreased by 75.8 percent. percent, losing about 455.1 billion dollars, after falling from the level of 599.9 billion dollars to about 144.8 billion dollars, to about 17.89 percent of the total market with this number.
The coin “Tezer” came in third place, after its price stabilized at the level of one dollar, while its market value stabilized at the level of 66.3 billion dollars, with a market share of 8.23 percent.
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Coin “USDC” came in fourth place, after its price stabilized at the level of one dollar, and the total market value at the level of 44 billion dollars, with a total market share of 5.46 percent.
And while the currency “BNB” took the fifth place among the largest cryptocurrencies by market value, during the past hours the currency recorded losses of 5.6 percent, compared to weekly losses of 21 percent, so its price in today’s trading settled at the level of 269 dollars, its total market value fell to about $43 billion, taking a market share of 5.34 percent.
Xripple lost 31 percent of its value
The currency “BUSD” came in sixth place, and while the price of the currency stabilized at the level of one dollar, its total market value stabilized at the level of $23.3 billion, gaining a market share of 2.89 percent of the total combined value. currencies traded in real time.
X Ripple, which ranked seventh among the top 10 digital currencies by market capitalization, saw losses of 31 percent during last week’s trading, compared with a 10.8 percent drop over the past few hours, to stabilize its price in trading today, at the level of $0.327, and its combined market value fell to the level of $16.4 billion, gaining a market share of 2.03 percent.
As for the Cardano currency, which ranked eighth among the top 10 digital currencies by market value, it recorded losses of 21.6 percent during last week’s trading, compared to a 7.6 percent drop in the previous hours, settling its price in today’s trading, at the level of $0.318, and its combined market value stabilized at the level of $10.9 billion, occupying a market share of 1.35 percent of the total market value of currently traded currencies.
Dogecoin came in ninth, losing 31 percent during last week’s trading, with a 10 percent drop over the past few hours, settling at $0.0818 in today’s trading and its combined market capitalization falling to level of 10.8 billion dollars, to gain a market share of 1.34 percent.
And the currency “Polygon” ranked tenth among the top 10 digital currencies by market value, with the currency recording losses of 10.6 percent over the past hours, compared to a weekly decline of 29 percent, to trade today at the level of 0.859 dollars , and its combined market value fell to the level of 7.5 billion dollars, taking a market share of 0.93 percent.