The flagship cryptocurrency Bitcoin (BTC) and many major altcoins have suddenly lost their support in the last 24-hours. As a result of the misfortune, both BTC and altcoins experienced about a 20% drop in price.
According to Coinmarketcap data, the total global crypto market capitalization is now $2.03 trillion, at the time of writing. Of note, the $2.03 trillion represents an about 9.98% massive reduction over the last 24-hours.
Also, citing from Coinmarketcap, the trading volume of the crypto market is currently $228.20 billion. At press time, the $228.20 billion amount also shows an about 6.10% increase.
Moreover, in terms of decentralized finance (DeFi), the total volume of DeFi also stands at $19.24 billion. This actually makes 8.43% of the total crypto market 24-hour volume.
In addition, the overall stablecoin trading volume is currently at about $188.66 billion. Specifically, the $188.66 billion represents over 82.67% of the total crypto market 24-hour volume.
Crypto enthusiasts have been speculating that the price dump may be related to Elon Musk’s recent Bitcoin comments.
Currently, Bitcoin price is negative (-) with about 40.19% dominance. Based on CoinGecko, BTC price is $44,620.93 with a 24h trading volume of $84,739,643,930.
This article was first published on coinquora.com
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Source: Cryptocurrency - investing.com
