The value of the $ 1 trillion crypto economy is lower than the level recorded last July
The $ 1.19 trillion crypto economy is now lower than the July 2021 low. Over the past week, digital currencies such as Bitcoin, Ethereum, Cardano, and XRP have depreciated significantly against the US dollar as top cryptocurrencies have lost ground. 50% to 80% from their all-time price hikes.
How far can the crypto economy go?
This is not a good week for crypto assets as the first ten digital currencies have fallen by 4% to 15% in the last seven days. Bitcoin (BTC) lost 4.6% this week, while Ethereum (ETH) Decreased by more than 14%.
BNP is down 9.7% this week ADA has declined by only 0.7% in the last seven days. XRP The SOL lost 7.4%, the SOL fell 11.6%, and the tenth-largest market value dogecoin (DOGE) fell 13.6% this week.
Currently, the crypto economy is worth $ 1.19 trillion because it lost 6.1% on the last day alone. This is lower than the value recorded in July 2021, when market capitalization reached $ 1.32 trillion. Finally, the whole crypto-economy was underestimated, in the first week of February 2021.
At that time on February 6, 2021, BTC Was It is trading at $ 39,405 per unit, ETH was Exchanged for $ 1,665 per unit, and XRP was Traded at $ 0.43 per coin. Currently, these currency values are lower than they were in the first week of February.
Other top currencies were lower than today’s value. For example, on February 6, 2021, the avalanche (AVAX) traded at $ 16.42. Today, AVAX is trading at $ 20.04 per unit.
In February 2021, Solana (SOL) was $ 6.05 per unit, and today it is up to $ 33.84. Also, Terra (Luna) traded up 86% to $ 2.74 in the first week of February 2021, but today its value is only $ 0.00006805 per unit.
Currently, The Crypto Fear and Greed Code (CFGI) As far as the crypto sense is concerned, “extreme fear” is in the air today. At the time of writing, the CFGI score of “12” stands for “high fear” compared to yesterday’s score of “13”.
Google Trends (GT) data Search interest for the word “bitcoin” has dropped by more than half worldwide from the peak of the search term. GT Data for Search Word “Cryptocurrency” is Even worse because search interest lags behind the new minimum of 3 out of 100.