Bitcoin Dips Below $44K, Crypto Economy Drops 4.5%, Traders Rush to Stablecoins

Bitcoin Dips Below $44K, Crypto Economy Drops 4.5%, Traders Rush to Stablecoins

The price of bitcoin dropped below the $44K zone on Wednesday to $43,678 per unit as the entire crypto-economy has shed billions in value. Kirjutamise ajal, the overall crypto economy is down 4.5% as it dipped to $2.25 trillion in value.

Bitcoin and Crypto Economy Sheds Billions, Crypto Fear & Greed Index IndicatesExtreme FearIs in the Air

  • Bitcoin (BTC) slid in value today, jämedalt 5.4%% viimase ajal 24 tundi. Just after 3:00 p.m. (EST) prices dipped from $46K to $43,678 ühiku kohta. BTCs price is just below the $44K price range against the U.S. dollarit.
  • The entire crypto-economy of more than 12,000 crypto assets is down 4.5% and around $2.25 trillion in value. Leading assets like ethereum (ETH) dipped 5.9% ja solana (SOL) shed 7.8%.
  • Kirjutamise ajal BTC on $25.9 billion in global trade volume and siduda (USDT) commands $53 billion in global swaps. The biggest loser in the top-ten crypto markets was terra (LUNA) as it shed 9.2%.
  • Crypto assets that didnt get affected by BTCs downward slide include chainlink (LINK), olympus (OHM), and leo token (LEO). Convex finance (CVX), spell token (SPELL), and axie infinity suffered the biggest losses during the market rout.
  • The stablecoin market captures $58.8 billion of today’s $98.5 billion in trades. Out of the $2.25 trillion today, stablecoins represent $166.4 billion of the value.
  • Praegu, BTCs market cap is around $836.2 billion in value while ethereum’s (ETH) on $427.7 miljardit. BTC dominance has dropped significantly and to the lowest point in more than three and half years.
  • BTC dominance today is 37.5% the lowest its been since June 2018, samas ETH dominance is 19.2%.
  • At press time, BTC is holding above $44K per unit but has a $ 24-hour range of $46K to $43.7K on Wednesday. Stablecoins have also been feeling the brunt as many are trading a cent or two under the $1 pulk.
  • The stablecoin USDC and its market valuation of around $42.6 billion is now the sixth-largest market cap today. USDC has seen $2.6 billion in global trade volume during the last 24 hours and is trading for $0.99 ühiku kohta.
  • Metrics from the Crypto Fear & Greed Index showextreme fearis the sentiment for today with a score of 24 kirjutamise ajal.

What do you think about todays market action? Andke meile allolevas kommentaaride jaotises teada, mida te selle teema kohta arvate.