In the early morning of December 4 (after 12:00 AM Eastern Time), a large number of cryptocurrencies depreciated sharply. At the time of writing, the crypto economy fell by more than 16%, and the price of Bitcoin fell below the $50 K zone to a low of $43,972 per unit. Since then, Bitcoin has successfully recovered to a position slightly above US$47,000 per unit.

Encrypted economic value diving

As billions of people left the encrypted economy within a few hours, the digital currency market has depreciated significantly in the past 24 hours. Currently, the crypto economy and its existing 11,388 coins have lost more than 16% of the dollar value. Bitcoin (Bitcoin) Fell from USD 53,000 per unit area to USD 43,900 in the first hour of Saturday morning.

Slide down Bitcoin It fell by 17.16%, but since then, crypto assets have risen again by 7.28% after the market massacre. Bitcoin It has successfully broken through the USD 47,000 area, and the overall market value is approximately USD 895 billion. 7 days of statistics show that Bitcoin (Bitcoin) Fell by 11.5%, but the 30-day statistics showed that the price fell by 25.2%.

The second largest market valuation, held by Ethereum (Ethereum), it has fallen by 13.9% in the past 24 hours, but the 7-day indicator shows that the ether has fallen by only 2.2% after reaching its all-time high (ATH) last week. The biggest loser in the top ten is Dogecoin (DOGE), which has fallen by 21.9% in 24 hours. Polkadot (DOT) fell 21.7%.

Although solana (SOL) rose 0.6% this week, SOL fell 18.2% during the crash. Ripple 19.8% of dives and Cardano (Have) Fell 17.5% in the past 24 hours. Binance Coin (Bitcoin) Is the only top ten competitor who managed to avoid losses because it only fell by about 12.7% during the down period.

BitcoinToday’s market dominance is 38.4% of the crypto economy, and Ethereum (Ethereum) Accounted for 20.2%. At the time of writing, the market value of Ethereum is approximately $470 billion. Today, the global trade volume is 243.8 billion U.S. dollars, of which stable currency transactions are 147 billion U.S. dollars.

The overall valuation of the stablecoin economy today is US$156 billion, accounting for 6.67% of the US$2.32 trillion crypto economy. Although most tokens except stablecoins have depreciated considerable value, ecash (XEC) still rose by 7.2%.

Today’s biggest losers include fantom (FTM), which fell 27.7%, and theta network (THETA), which fell 27% during the downturn in the crypto market.

What do you think of the recent crypto market downturn? Please tell us your thoughts on this topic in the comments section below.

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