Crypto Markets Lose Billions, Weak Hands Capitulate, Stablecoin Market Surpas...
Digital currency markets have shed billions once again, as the entire crypto-economy has been cut down from well over $2 trillion to today’s $1.44 trillion market valuation. Bitcoin was coasting along just above the $38k handle before 9 p.m. (EST) yesterday evening but after that point, sellers started capitulating and the price dropped under $34k. Crypto Economy Shaves Billions Crypto prices are down on Sunday after a number of markets tried to regain strength on Friday and Saturday. Bitcoin (BTC) and a number of other digital assets have lost significant value, as last....
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During the last month, the stablecoin economy’s market valuation dropped from $155.23 billion to $153.34 billion on July 20, sliding roughly 1.21%. The top two stablecoins by valuation, tether and usd coin, have seen their market caps slide over the last 30 days, while BUSD and DAI have seen increases.
Stablecoin Markets Lose Close to $2 Billion, Stablecoin Token Dominance Equates to 14.16% of the Entire Crypto Economy
Statistics show that on June 23, 2022, the market capitalization of the entire stablecoin economy was roughly $155.23 billion. Since then, $1.89 billion....
Last week's rout in bitcoin market looks like "weak hands" selling out because bidders appeared to materialize whenever prices fell to $30K.
According to statistics on Friday, May 13, the top stablecoins by market capitalization are currently worth $163.7 billion after the stablecoin economy was valued at close to $200 billion just last week. Of course, the climactic terrausd (UST) failure wiped out billions from the stablecoin economy, and Binance’s stablecoin BUSD has recently entered the top ten crypto market capitalization positions. Just as it caused carnage in the crypto economy, Terra’s recent downfall has caused a great shift within the stablecoin ecosystem.
The Stablecoin Economy’s Great Shift....
During the last few days, the crypto economy has been tumultuous as billions have fled the market in search of safety. The issues with LUNA sparked a significant sell-off as Terra’s native digital asset dropped 97% in value against the U.S. dollar in 24 hours. Terrausd has slipped 67% lower than the $1 parity and was trading at a low of $0.299 per unit at 9:00 a.m. (ET). Terra’s Native Token LUNA Loses 97%, While UST Loses 67% in 24 Hours The Terra blockchain ecosystem has been ravaged by the events that took place over the last few days, when the network’s algorithmic....
What a week! The cryptosphere is buzzing. Did a single tweet from Elon Musk tanked Bitcoin’s price? Or did weak hands surrender their coins to strong hands at a discount? Even though Elon’s motives are in question, and probably have nothing to do with the environment, MicroStrategy’s CEO came to the rescue. In a recent […]