HomeCryptocurrencyMore than 241 billion dollars evaporated from the “crypto” market in 48 hours

More than 241 billion dollars evaporated from the “crypto” market in 48 hours

Cryptocurrencies deepened the wave of losses that erupted due to disagreements between major investors, which caused the collapse of “Bitcoin”, which is the strongest in the “cryptocurrency” market, to the level of 16 thousand dollars, its lowest level since trading in August of 2017. 2019.

The latest wave of bleeding came after a split at the top of the sector that portends more market volatility, and the wave of violent losses came after reports that Zhang Bingshao, owner of Binance, the largest cryptocurrency exchange in the world, sparked a wave of withdrawals from the exchange. FTX, the world’s third largest cryptocurrency exchange, is the latest chapter in its ongoing dispute with FTX owner Sam Bankman Fried.

Binance is currently heading towards acquiring FTX after it faced a “major liquidity crisis” that made it on the verge of collapse, and the “Bitcoin” currency fell to about $ 17.2 thousand earlier in the last trading, its lowest level since late 2020. , but returned to the improvement and stability at the highest level of 18 thousand dollars.

In the digital currency market, and in the last 48 hours of trading, the total market value of cryptocurrencies fell by 22.6 percent, losing about 241 billion dollars to the currencies being traded, after the combined market value declined from 1065 billion dollars to about 824 billion dollars. Dollars in trading this morning, Thursday, November 10 (November).

Bitcoin drops to 16 thousand dollars

At the top of the losing digital currencies came the “Bitcoin” currency, which recorded during the last 48 hours, a decline of 23.7 percent, losing about $ 5092, after its price fell from the level of $ 21,410 to about $ 16,318, its lowest level since August 2019.
Its combined market value also decreased by 23.4 percent, losing about $96.3 billion, after it fell from the level of $410.6 billion to about $314.3 billion. While the currency captured 38.14 of the total market, it captured 40 percent of the total market losses.

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