$97,458.00
-1.95%$3,401.23
3.31%$254.48
-0.16%$650.95
4.38%$1.45
0.06%$0.419578
4.60%$0.999656
-0.06%$1.048
7.40%$3,401.26
3.37%$0.211415
5.21%$41.52
4.45%$6.25
13.61%$0.00002568
3.55%$0.488097
46.03%$4,033.57
3.08%$97,220.00
-1.87%$8.48
33.21%$17.39
13.69%$502.56
2.92%$3,402.40
3.20%$3.40
-1.74%$0.00002024
0.29%$8.61
3.23%$6.11
7.61%$97.92
7.79%$12.64
4.88%$10.78
15.72%$3,587.20
3.45%$0.153625
10.88%$11.26
8.33%$0.196756
3.78%$0.99939
0.44%$0.567262
18.44%$29.52
5.28%$7.68
6.19%$0.152332
1.16%$1.002
0.04%$508.29
4.00%$1.40
13.28%$0.00004798
-1.60%$24.71
0.05%$0.854236
10.43%$0.04146665
22.34%$3.64
-2.30%$5.44
14.70%$3.24
4.23%$8.13
11.28%$51.46
11.04%$2.04
5.24%$7.08
30.53%$160.15
0.92%$0.875312
2.75%$2.20
4.16%$27.37
12.01%$1.56
14.54%$172.62
5.66%$0.856901
21.73%$0.00024743
0.33%$0.287248
15.54%$0.23668
6.22%$1.58
6.51%$0.996739
-0.17%$0.518744
10.10%$3,421.76
3.91%$1.87
11.22%$5.52
5.20%$0.646844
8.52%$3,778.00
2.76%$6.00
0.33%$3,559.91
2.93%$97,520.00
-1.85%$0.162166
4.10%$2.32
7.73%$97,346.00
-1.13%$3,494.37
3.13%$1.11
2.15%$1.035
6.06%$0.411391
4.15%$1,659.88
2.20%$98.82
7.66%$1.44
-1.42%$21.55
20.49%$11.70
5.53%$10.88
7.13%$69.16
4.01%$314.39
-0.04%$0.03343724
16.83%$0.566392
18.16%$0.844397
16.97%$0.00000131
13.59%$1.36
12.03%$0.0250907
26.88%$0.02298306
3.54%$0.02289049
9.72%$0.571504
11.30%$0.760175
3.55%$1.13
2.44%$1.13
1.51%$1.52
20.67%$3.15
-0.45%$6.80
14.29%$97,336.00
-2.30%$1.13
17.62%$269.01
0.14%$5.97
13.07%$0.426401
19.47%$12.81
11.17%$0.0000026
1.94%$14.33
7.00%$3,387.75
3.01%$0.172589
6.84%$35.75
18.13%$0.521533
21.47%$1.39
7.49%$3.86
4.18%$97,252.00
-1.80%$96,764.00
-1.07%$0.814377
6.93%$1.27
10.59%$3,509.56
3.85%$0.00004492
2.10%$258.16
-0.12%$1.36
2.69%$0.424013
5.22%$5.30
6.52%$0.00970552
-0.70%$0.719227
7.09%$39.30
6.70%$0.176908
16.19%$0.00791082
11.83%$0.054202
16.09%$0.795041
-5.93%$0.085054
12.08%$0.999453
-0.00%$0.0017918
1.88%$0.213256
13.91%$48.17
9.14%$0.00722088
-2.11%$0.259009
8.95%$273.52
4.74%$3,399.08
3.21%$1.52
20.40%$2.07
16.35%$20.50
6.46%$2,721.11
0.44%$3,396.13
3.02%$2.11
6.20%$0.778877
10.25%$0.00011981
4.58%$2.25
15.92%$0.00941264
1.71%$0.994324
-0.32%$0.095249
11.12%$40.24
85.12%$0.50606
15.21%$0.01383749
7.16%$3,682.13
3.25%$1.68
20.01%$0.16495
9.25%$1.30
7.00%$0.196909
7.20%$0.582496
8.36%$0.286577
14.50%$32.58
0.26%$0.999418
-0.14%$3,397.84
3.15%$63.90
17.40%$0.074848
14.15%$0.079668
-1.54%$96,542.00
-2.61%$0.499016
8.84%$2,730.83
0.57%$2.20
6.02%$1.059
1.76%$97,894.00
-1.12%$3,396.49
3.73%$0.00753869
2.18%$0.557037
8.59%$0.00000025
4.20%$2.67
9.26%$0.00145184
-2.36%$0.0000005
4.22%$0.999158
-0.17%$97,253.00
-1.60%$3,402.45
3.30%$8.33
1.22%$0.369865
8.95%$0.069625
4.94%$1.13
16.70%$3.56
-2.59%$0.0242014
14.20%$3.82
2.04%$0.241055
10.36%$3,645.73
3.44%$0.797016
10.32%$0.00831618
10.82%$1.065
-0.69%$0.01404003
9.50%$0.999853
-0.12%$11.99
14.86%$2.08
14.22%$3.86
9.00%$3,409.52
3.49%$1.99
17.31%$1.024
6.75%$8.59
8.43%$3,564.64
3.87%$1.00
-0.04%$0.605756
10.57%$0.443007
0.65%$0.00235532
12.08%$48.99
5.32%$0.04384276
6.26%$0.233216
17.77%$1.003
-0.23%$33.58
14.83%$0.00498615
7.46%$0.39989
-18.49%$3.70
8.55%$6.52
0.09%$1.061
-0.65%$95.54
-1.86%$1.028
22.58%$0.458793
5.86%$3,752.64
3.50%$3.65
8.44%$0.03807846
14.74%$0.384891
-6.84%$1,956.40
-2.03%$0.251348
12.97%$0.375417
4.90%$0.00
8.41%$3,614.32
3.52%$0.333836
3.11%$0.03855916
-0.58%$1.006
0.16%$97,187.00
-1.91%$0.36968
-6.10%$0.02511411
14.06%$4.69
3.59%$0.00628151
4.74%$0.703229
7.63%$0.363639
21.44%$0.408573
17.30%$0.891471
2.39%$0.03528518
4.42%$1.35
-0.05%$56.94
18.18%
Both Bitcoin and Ethereum have suffered substantial losses over the past week, dragging the broader crypto market deeper into the sea of red.
The price of Bitcoin (BTC) has slid down by nearly 10% over the last seven days–from the levels above $34,000 last Monday to the current $31,033, according to data from CoinGecko. In the same period, Ethereum (ETH) fell from $2,140 to $1,822 today–a decline of more than 14%.
The market capitalization of both cryptocurrencies has tumbled as well, with the corresponding value of Bitcoin falling from $633 billion to $583 billion. Ethereum’s market cap is down to $213 billion from $246 billion recorded a week ago.
The move downwards pushed the rest of the crypto market in decline as well, with the likes of Cardano (ADA), Dogecoin (DOGE), Polkadot (DOT), Uniswap (UNI), Solana (SOL), and Chainlink (LINK) all witnessing double-digit losses in the past seven days.
The cumulative market cap of all cryptocurrencies is down from $1.463 trillion to 1.303 trillion at press time, with Bitcoin dominating 44.7% of the entire market.
The price of Bitcoin has been in decline since mid-May when a combination of various factors resulted in a swift decline.
First, there was the crackdown on the crypto industry–mainly on the Bitcoin mining sector–by the authorities in China. Still ongoing, it resulted in several provinces imposing a ban on Bitcoin mining operations, which, in turn, led to the exodus of miners out of the country and a drop in both Bitcoin’s hash rate and mining difficulty.
Adding to the crash, Elon Musk, the CEO of Tesla, stirred the market on May 12 by announcing that the electric vehicle manufacturer, which invested $1.5 billion in BTC at the start of the year, would no longer accept cryptocurrency as payment because of the concerns around the environmental impact of proof-of-work blockchains.
Another thing not to brush off completely is the recent regulatory pressure on Binance, the world’s largest cryptocurrency exchange by trading volumes.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
Over the past few weeks regulators and financial institutions in countries like the UK,
