Tuesday, May 21, 2024

Cryptocurrencies lose a third of their value in May … Market panics by Investing.com


© Reuters

Investing.com – The biggest market crash, which began in early May and intensified with the collapse of the Terra Staplecoin and the fall of Luna to zero, is still reeling.

The current downturn has hit all currencies, while the largest digital currency, Bitcoin, is still hovering around 30,000 levels.

600 crore loss

During the May trade, cryptocurrencies suffered losses of more than $ 600 billion, which began even before the steady decline of Terra Luna and Terra.

The market value of digital currencies fell from a high of $ 1.81 trillion on April 29 to $ 1.2 trillion during today’s trade.

The single share of bitcoin in these losses came to about $ 200 billion, with its market value falling from $ 750 billion to $ 550 billion.

Fear decreases

Over the past few hours, traders in the crypto market have expressed a relative decline in feelings of fear and panic, even though it is related and limited to the movement of bitcoin.

Fear and panic still dominate the trade, with the panic wave reaching a relatively low of 14 points compared to yesterday’s levels, up one degree from Saturday’s trade.

In general, the Crypto Fear & Greed Index was close to 14 points last week, but the index is far from the previous month’s level of 23 points.

Bitcoin now

Until these moments of trading on Sunday today Bitcoin is trying to find a foothold, over 30 thousand dollars, but it is still trading in a narrow range of over two thousand dollars.

Bitcoin is rising somewhat during these moments, but it is still below the $ 29,000 level, which it lost on Friday, while rising 1.3% during the week’s trading.

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And it has fallen in the range of 27% in thirty days, while its market value has fallen by 40% since the beginning of the year to $ 550 billion.

Today’s market capitalization

The market value of digital currencies fell below $ 1.2 trillion yesterday, just before trading on Saturday, the lowest level in nearly a year, especially since July 2021.

However, during these moments of trading on Sunday, it regained those levels after making a small profit in the $ 20 billion range and reaching $ 1.21 trillion.


Now, the largest altacoin is below $ 1.8 trillion, with an increase of less than 1%, falling within 10% within a week and within 40% within thirty days.

In contrast, the Binance Coin is down less than 1% and 4% in a week, but it is on track to lose 26% in thirty days, while its market value is about $ 50 billion.

In the same context, it was down 0.7%, while it was 7% in one week and 40% in 30 days, with a market value of less than $ 19 billion.

In contrast, it rises to less than 1%, but decreases to 13% within a week and 45% within a month, while decreasing to 2% and 4% within a week and 57%, respectively.

While the polka dot is down 4% and 6% during the week, both currencies are down 44% in May.

The article does not disclose a recommendation or appointment, but only monitors market fluctuations because trading in digital currencies involves high risks, including the risk of losing some or all of the investment money, and is not entirely subject to funding. Officers and Markets.

Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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