The total market value of the cryptocurrency industry fell 0.9% in the last 24 hours to $2.08 trillion, according to Coinmarketcap.com data. The collapse was fueled by selloffs in Bitcoin, the world’s largest cryptocurrency asset, which accounts for more than half of the total sector value.
Bitcoin is trading below $59,000 on cryptocurrency exchanges, down 0.08% over the last 24 hours in the market. The cryptocurrency value had fallen sharply due to fears of a US recession, which prompted individual investors to liquidate.
In the last seven days, Bitcoin has acquired 6.73% of its former value. According to CoinMarketCap.com, the largest and most valuable asset is currently worth $58.845.
Ethereum is also trending negative at $2,635 after losing 0.03% over the day The total crypto market volume over the last 24 hours reached $79.2 billion, which is a 21.26% increase.
The total volume in DeFi is currently $3.78 billion, according to market data, representing 4.77% of the total crypto market 24-hour volume.
The volume of all stable coins is now $73.19 billion, which is 92.40% of the total crypto market 24-hour volume. Bitcoin’s dominance has increased by 0.02% to 55.96% today.
BNB is, however, moving positively, up by 0.40% to $522.68. Most major digital assets were mixed on Monday, with bitcoin (BTC-USD) hovering near the $59,000 level. The CoinDesk Market Index, which tracks 134 digital assets, fell 0.7% in the past 24 hours.
The Nasdaq 100 was flat, while the S&P 500 and the Dow Jones Industrial Average shed 0.2% and 0.5%, respectively. Bitcoin (BTC-USD), the most popular cryptocurrency, dipped 1% to $59,106 with a 24-hour trading volume of $38.67 billion, surging about 109%, according to CoinMarketCap data.
Ethereum (ETH-USD), the second-largest digital asset, climbed 2% to $2,657. BNB (BNB-USD), the third-largest digital asset by market value excluding stablecoins, edged down 0.3%, while Solana (SOL-USD), the fourth-largest, fell 1.9%.
XRP (XRP-USD) gained 1.3%, Dogecoin (DOGE-USD) was 1.7% higher, and Cardano (ADA-USD) was 0.1% softer. The US 10-year Treasury yield closed at 3.907%, down from Friday’s close of 3.944%, while the five-year yield closed at 3.749%, down from 3.798%.
