HomeCURRENT AFFAIRSBUSINESSTotal market cap of cryptocurrencies came down to $ 1 trillion

Total market cap of cryptocurrencies came down to $ 1 trillion

This week was the worst week of the year for the stock markets around the world. Be it the US market or the Indian stock market. This week Nifty and Dow Jones reached 52-week low. In the Indian stock market alone, 18 lakh crore rupees of investors were sunk in the last 6 days. The same was the case with the cryptocurrency market. Here too there was an outcry for the whole week.

In the same week, the total market cap of cryptocurrencies also came down to $ 1 trillion. In the last 7 days, the market cap of cryptocurrencies has been cleared by about 30 thousand crores that is more than 22 lakh crore rupees.

Within 7 days, the largest cryptocurrency Bitcoin and the second largest currency Ethereum have broken more than 30 percent. From this, you can guess how much bloodshed has happened in the crypto market this week.

The market cap of cryptocurrencies was Rs 1.187 lakh crore on January 10.

Today on Saturday it has come down to $ 88 thousand crore. The top ten currencies have lost up to 70 percent of their highs. This week the US stock market Dow Jones has also gone below the level of 30,00. This was it’s worst performance since May 2020.

The condition of the world’s largest cryptocurrency has worsened. Today on Saturday, the price of one bitcoin is trading around $ 20,390. It has broken more than 65 percent. In just the last seven days, this currency has fallen by about 30 percent.

Ethereum 7 Broke 35% in the last 7 days The second largest cryptocurrency Ethereum has fallen 35 percent in the last 7 days. From its November high, this currency has fallen by almost four and a half times. Today on Saturday it is trading at $1074. In November 2021, it was running at $4600.

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