Crypto Economy Shaves $100 Billion, Digital Asset Markets Recover Some Losses

Saturday 23 January 2021, 1:58 AM AEST - 1 month ago

Crypto Economy Shaves $100 Billion, Digital Asset Markets Recover Some Losses

Digital currency markets have dropped in value during the last two days as more than $100 billion was shaved off the entire crypto market valuation. Bitcoin slid to the lowest point of the year at $28,800 per unit on Thursday afternoon, and a number of other crypto-assets saw significant losses as well. Currently, as digital currency trading sessions head into the weekend, the crypto economy has regained some of the losses suffered during the last few days.

Crypto Markets Attempt to Heal

During the last 48 hours, the leading cryptocurrency in terms of market valuation has slid considerably in value. For instance, two days ago the price of bitcoin (BTC) was exchanging hands for $35,900 per coin and on Thursday afternoon (EST), the price dropped to $28,800 per unit. Thats a total loss of -19.77%, but BTC markets have rebounded since then and managed to climb right back over the $30k handle.

At the time of publication, bitcoin (BTC) is swapping at prices between $32,200 to $32,800 per coin and has a touch over a $600 billion market valuation.

Crypto Economy Shaves $100 Billion, Digital Asset Markets Recover Some LossesThe price of bitcoin (BTC) touched a new 2021 bottom touching $28,800 per unit on Thursday. Since then, BTC and a slew of other digital assets have recovered some of the losses. (BTC/USD chart on Jan. 22, 2021, @ 10:30 a.m. EST on Bitstamp via Currently, BTC is swapping for $32,500 per unit during Fridays crypto trading sessions.

On Friday theres over $28 billion in global BTC trade volume, with tether (USDT) capturing 52% of all bitcoin trades today. BTC shed over 13% over the course of the week, but is still up 35% for the last 30 days. Over the 90-day span, BTC has gained 140% and 275% against the USD for 12 months. Followi ...

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