Crypto assets have dropped between 7-15 percent in value over the last 24 hours causing the market valuation of all 10,000+ crypto-assets in existence to drop below the $2 trillion, losing over 9 percent in value.
Bitcoin prices, which were above the $48K zone on September 19, dropped to $42,660 per unit the following day.
On Monday. BTC has shed 8.9% in value and the digital asset’s market valuation is around $815 billion today. At the time of writing, a single BTC is swapping for just above $43K per coin.
Ethereum (ETH), the second-leading crypto asset, dropped 10.3 percent in value for just above $3K per unit. ETH has an overall market valuation of around $355.4 billion on Monday.
Meanwhile, XRP was the biggest loser out of the top ten crypto-asset market positions, shedding 13.8 percent.
“BTC began the week below $45,000 after the flash crash of the week before. Having risen across the week to near $49,000 levels the price collapsed again on Sunday, falling away to now trade around $45,500.
Likewise, ETH began the week trading around $3,200 before rising to a high of $3,652 on Thursday. It fell further to now trade below $3,200, a 13% decline.
The top coins being traded include nine different stablecoins. Besides the stablecoin action today, the coin that took the least amount of the fiat loss is cosmos (ATOM). Cosmos only lost 0.9 percent on Monday and is up over 9% for the last seven days. The biggest loser today is Algorand (ALGO) losing 16.6 percent during the last 24 hours.Internet Explorer Channel Network