Amid a bearish momentum on the larger part of the cryptocurrency industry, the sector has wiped over $20 billion from its market capitalization in a single week, extinguishing hopes of reclaiming the $2 trillion level any time soon and fueling fears that it could drop below $1 trillion instead.
Specifically, the cryptocurrency market cap at present stood at $1.14 trillion, having declined $21.22 billion or 1.82% since this time last week, when it amounted to $1.16 trillion, according to the latest information retrieved by Finbold from crypto tracking platform CoinMarketCap on May 9.
Total crypto market cap 7-day chart. Source: CoinMarketCap
As it happens, most of this drain has taken place in the last 24 hours alone, during which time as much as $12.88 billion has left the total crypto market cap, getting closer to the feared $1 trillion level, from which the sector broke out in early March.
Bitcoin leads bears
Meanwhile, the bearish charge is led by the sector’s representative, Bitc
We współpracy z: https://finbold.com/crypto-market-sheds-20-billion-in-a-week-headed-below-1-trillion/
