Cryptocurrencies have continued their wave of losses that began last Sunday, with the sharp declines affecting Bitcoin causing the market to lose over $108 billion in total value over the past 48 hours.
According to the "Coin Market Cap" platform, the aggregated market value of cryptocurrencies has dropped by 6.5% in the last 48 hours, losing about $108.1 billion, as the total market value fell from $1.6624 trillion last Sunday to approximately $1.5543 trillion today.
For Bitcoin, it decreased by 8.4% in the last 48 hours, losing around $3,527, with its price dropping from $41,850 to about $38,323. Its aggregated market value also fell by 8.4%, losing around $66.4 billion, as it declined from $785.6 billion to approximately $719.2 billion, accounting for 61.4% of the total market losses in recent hours.
Ethereum experienced a loss of 4.7% over the past 48 hours, down about $124, with its price dropping from $2,602 last Sunday to around $2,478 today. Its total market value decreased by 4.8%, losing about $14.7 billion, with the aggregated value falling from $304.2 billion to around $289.5 billion, representing 13.6% of the overall market losses.
Tether ranked third among the largest cryptocurrencies by market value. While its price remained steady at $1 today, its total market value increased by 0.16%, gaining about $0.1 billion, as it rose from $61.9 billion to approximately $62 billion.
Binance Coin saw losses of 6.7% in the last 48 hours, down about $23, with its price decreasing from $343 to around $320. Its aggregated market value also dropped by 6.7%, losing about $3.9 billion, as it fell from $57.8 billion to about $53.9 billion.
Cardano recorded a loss of 6.5%, down $0.09, with its price dropping from $1.37 to around $1.28. Its aggregated market value fell by 6.8%, losing $3 billion as it decreased from $43.9 billion yesterday to $40.9 billion today.
