Digital currencies continued the wave of losses that began since December last year, taking market losses to over $ 271 billion in the first week of the new year.
These losses come after the minutes of the latest US Federal Reserve meeting showed its inclination towards more aggressive policy and expectations of a faster rise in interest rates, which has limited investors’ appetite for more assets. risky.
Cryptocurrencies plummeted as the cost of borrowing rose and central banks raised interest rates. Bitcoin reached the record of $ 69,000 in trading of November.
In terms of trading, and during trading in the first week of 2022, the cryptocurrency’s market capital fell 12%, losing approximately $ 271.8 billion of its value, after falling from the $ 2,236.6 level of transactions at the start. for the year to the level of $ 1964.8 billion in today’s trade.
As for “Bitcoin,” it saw a decline of 10.3%, losing about $ 4,753, after its price fell from $ 46,147 at the start of trading last week to about $ 41,394 in today’s trading. And its combined market value fell 10%, posting losses of $ 87.5 billion, after its combined market value dropped from $ 874.4 billion to about $ 786.9 billion in trading of today.
The currency “Ethereum” recorded losses during last week’s trading of 15.2%, losing around $ 567, after its price dropped from the $ 3730 level to around $ 3163. Its combined market value also fell by 14.7%, losing about $ 65.2 billion, after its market value fell from the $ 444.3 billion level to around $ 379.1 billion.
While the “Tezer” currency, which ranked third among the largest currencies in terms of market value, it stabilized at the $ 1 level. It recorded an overall market value of approximately $ 78.43 billion.
The “Binance Coin” currency, which is the fourth largest digital currency by market value, suffered losses of 14.7% during the trading last week, compared to losses of 6.4% in the past few hours, to be trading at the $ 440.25 level today. Total market value also dropped to $ 73.86 billion.
As for the “teezer” currency, it ranked fifth among the largest currencies in terms of market value, it stood at the $ 1 level. It recorded an overall market value of approximately $ 43.208 billion.
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