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New Delhi: A sharp selloff in riskier assets has been weighing hard on sentiments around cryptocurrencies as well. Bitcoin , the largest crypto token in terms of market capitalization and dominance, dropped below the $33,400 mark on Monday. It has wiped out more than half of investors' wealth since hitting a lifetime peak of $67,566 in November 2021.
Vikram Subburaj, CEO, Giottus Crypto Exchange, said Bitcoin and the wider crypto markets have been affected by negative sentiment across investor groups given the hike in interest rate and the concerning inflation data globally.
- A sharp selloff in riskier assets has been weighing hard on sentiments around cryptocurrencies as well.
- Bitcoin, the largest crypto token in terms of market capitalization and dominance, dropped below the $33,400 mark on Monday.
- It has wiped out more than half of investors' wealth since hitting a lifetime peak of $67,566 in November 2021.
Despite the sharp fall in the price, the supremacy of Bitcoin among crypto tokens has increased. Bitcoin's dominance is currently 41.64 per cent, which was around 36-38 per cent at the peak.
The largest token among crypto assets has been commanding a market cap of more than $635 billion with a 13 per cent rise in trading volume as Bitcoins worth more than $37.26 billion exchanged hands in the last 24 hours.
Not only this, the total total market capitalization of crypto assets has dropped over 50 per cent to $1.51 trillion from $3.15 trillion, when the market was in full swing during the later end of 2021.
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However, despite the sharp fall in the price, the supremacy of Bitcoin among crypto tokens has increased. Bitcoin's dominance is currently 41.64 per cent, which was around 36-38 per cent at the peak.
Despite the sharp fall in the price, the supremacy of Bitcoin among crypto tokens has increased. Bitcoin’s dominance is currently 41.64 per cent, which was around 36-38 per cent at the peak.
Despite the sharp fall in the price, the supremacy of Bitcoin among crypto tokens has increased. Bitcoin's dominance is currently 41.64 per cent, which was around 36-38 per cent at the peak.
The largest token among crypto assets has been commanding a market cap of more than $635 billion with a 13 per cent rise in trading volume as Bitcoins worth more than $37.26 billion exchanged hands in the last 24 hours.
Not only this, the total total market capitalization of crypto assets has dropped over 50 per cent to $1.51 trillion from $3.15 trillion, when the market was in full swing during the later end of 2021.
However, despite the sharp fall in the price, the supremacy of Bitcoin among crypto tokens has increased. Bitcoin's dominance is currently 41.64 per cent, which was around 36-38 per cent at the peak.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
