© Reuters
Investing.com – It looks like winter isn’t over yet, as there are still dark days waiting for the cryptocurrency market, from China’s and central bank’s escalations and Musk’s tweets in the middle of last year to Earth’s collapse Luna and that of the US Federal Reserve pressure on riskier assets due to aggressive policy Since last April.
Finally it seems that in the last few hours a new chapter has been created with a new crash and failure on the verge of occurring, as FTX has lost almost 90% of its value in just a few hours.
180 billion dollars
After the market value of digital currencies hovered around $ 1.05 trillion levels after returning near $ 21k levels, it wasn’t a few days before new news hit the markets regarding the FTX failure and the collapse of the company’s token after the Binance platform announced a large liquidation of the symbol.
The market value of digital currencies fell during trading today, Wednesday, according to data from CoinMarketCap, close to $ 970 billion levels, up from $ 1.05 trillion hours ago.
Bitcoin falling
While Bitcoin was trading near $ 21.5k levels on Monday, November 7, Bitcoin, the largest digital currency, lost more than 18% of its value in hours, trading as low as $ 18k. its market value has dropped to levels close to $ 340 billion.
Bitcoin’s single market losses rose to nearly $ 70 billion, down from $ 410 billion levels prior to the news of the FTX crash and bankruptcy that began on Monday.
Fear and panic
Once again, the cryptocurrency market appears to be rapidly heading into panic territory, but what slowed it down was Binance’s surprise announcement yesterday of a deal to acquire FTX.
The Crypto Fear & Greed Index fell by two points from 31 to 29 points in just a few hours, but is still within the fear zone.
right now
The losses of the second largest digital currency, Ethereum, have exacerbated, which during today’s trading only lost more than 17% to levels close to $ 1,200, while trading before plunging above $ 1,500 levels. .
Ethereum has now dropped to levels of $ 1.22K, while it’s down 22% in a week, while its market value has dropped to levels close to $ 150 billion, and is down nearly 70% since. beginning of the year.
market now
Binance Coin is down more than 11% while down 7% in a week and its market cap has dropped to $ 48 billion levels while trading below $ 300 levels.
A currency is down 16% at these times, while it falls 20% within a week, and is hovering around the $ 0.36 levels, with a market value of less than $ 19 billion, while falling 30% in a week.
It has fallen in the 10% range at these times to $ 0.355 levels, while the currency is down more than 10% during trading today and more than 40% within a week.
The Polygon Matic coin fell 25% during Wednesday’s trading at $ 0.9 levels, while its market value fell below $ 8 billion, while its losses rose 65% from the start. of the year.
The coin is down 9% at the $ 6 levels, while it is down more than 40% at these times as it loses nearly 50% in a week and is hovering close to the $ 17 levels.
Coin was down 13% to $ 0.000009619, while Avalanche was down 12% to levels of $ 14.8 and Trax was down 3% to levels close to $ 0.06.
The article does not express a recommendation or appointment, but simply a monitoring of market fluctuations, as trading in digital currencies carries high risks, including the risk of losing part or all of the investment, knowing that it is not completely subject to authorities and markets.
