February 8, 2023

Dubai Week

Complete Dubai News World

"Bitcoin" leads to cryptocurrency losses .. $ 59 billion evaporates in a matter of hours

“Bitcoin” leads to cryptocurrency losses .. $ 59 billion evaporates in a matter of hours

After 24 hours of climbing, the cryptocurrency exchanges turned red, Led by “Bitcoin”, it has recorded losses of more than 5% in the last 24 hours of trading.

Cryptocurrencies have suffered since the Federal Reserve announced an increase in interest rates for the dollar, prompting many investors to withdraw money from “Bitcoin” and use higher interest rates to pay into the dollar, especially amid expectations. Continuing market losses.

In terms of trading, the combined market value of cryptocurrencies has fallen by 4.6% in the last 24 hours, causing the market to lose about $ 59 billion, with the total market value falling from $ 1280.2 billion in trading on Monday. About $ 1221.2 billion in trading this morning. Tuesday.

On top of the lost digital currencies, “Bitcoin” came in, recording a decline of 5.7% in the last few hours, compared to the weekly losses of 6.2% to trade at $ 29,629 in today’s trade.

Its combined market value also fell to $ 564.4 billion.

Ethereum, the second-largest cryptocurrency by market value, recorded a loss of 7% in the last few hours, compared to a weekly decline of 10.2% to 1767 in today’s trade. Dollars.

Its consolidated market value fell to $ 214.1 billion.

The “Tezer” currency, the third-largest digital currency in terms of market value, was stabilized at $ 72.37 billion, while the consolidated market value remained at $ 72.37 billion.

The fifth-ranked “USD” also stabilized at $ 1, while its total market value stabilized at $ 53.7 billion.

Although the “BNP” currency is the fifth largest cryptocurrency in terms of market value, it lost 8.4% in the last few hours to settle its value at $ 284.12 in today’s trade.

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And its combined market value fell to $ 46.4 billion.