Bitcoin-Ethereum Lost $1 Trillion Market Cap in 6 Months
The Wall Street Journal (WSJ) reported Friday (May 13) that the market capitalization of cryptocurrencies has lost more than $1 trillion in just six years. month as investors sell crypto Amid growing concerns about risky assets
Bitcoin and Ethereum hit record highs of $67,802 and $4,800 respectively in November last year, but as of May 13, 2022, Bitcoin and Ethereum have fallen 58. % and 60% respectively from the highest level As a result, the crypto market has lost $1 trillion in value over the past six months.
The market cap crypto It is down about half from the previous high. As of May 13, 2022, the crypto market cap was around $1.2 trillion.
crypto coin has hit a record high in the last year After Tesla bought $1.5 billion worth of Bitcoin and Coinbase, a cryptocurrency trading platform. The largest in the US is listed on the New York Stock Exchange.
In addition, investors flock to buy various crypto coins, including Bitcoin. to insure against inflation risks as well
Recently, however, the price of TerraUSD (UST), a stablecoin issued by South Korean company Terra, has fallen sharply. and affect the crypto market The overall decline followed.
in the past week Bitcoin, the No. 1 market cap, fell 16.54%, Ethereum, the 2nd largest, dropped 22.96%, and Binance Coin, the fifth largest market cap, dropped 22.23.
The Federal Reserve’s aggressive hike in interest rates to stem inflation to a 40-year high has prompted investors to sell risky assets such as cryptocurrencies and stocks from their portfolios. too