• Wed. Jun 22nd, 2022

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

ByHazel R. Lang

May 29, 2022

© Reuters

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

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

600 crore loss

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

The market value of digital currencies fell from a peak of $1.81 trillion on April 29 to $1.2 trillion in today’s transaction.

Bitcoin’s unique share of these losses amounted to around $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 drop in feelings of fear and panic, albeit related and limited to bitcoin’s movement.

Fear and panic still dominate the trade, with the panic surge reaching a relatively low 14 points from 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 23 point level of the previous month.

bitcoin now

Up to these times of Sunday trading today, Bitcoin is trying to find a footing, over 30 thousand dollars, but it is still trading in a tight range over two thousand dollars.

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

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

Current market capitalization

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

However, in those moments of trading on Sunday, it recovered to those levels after taking a small profit in the $20 billion range and hitting $1.21 trillion.

Altcoins

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

In contrast, Binance Coin is down less than 1% and 4% in a week, but is on course to lose 26% in thirty days, when its market value is around $50 billion.

In the same context, it fell by 0.7%, while it was 7% in one week and 40% in 30 days, with a market value below 19 billion dollars.

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

While the pea is down 4% and 6% over 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 digital currencies involves high risks, including the risk of losing some or all of the investment money, and n is not entirely subject to funding. Officers and Markets.


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