Global cryptocurrency market cap has dropped from $1.7 trillion to $1.6 trillion in the last 24 hours, while trading volume has increased from $126 billion to $130 billion. Decentralized finance (DeFi) cryptocurrency market capitalization rose 7.26 percent to $113.19 billion, while that of stablecoins rose 0.14 percent to $165 billion.
Market outlook is negative. As a result of the Fed's tight monetary policy and gradually reducing purchases, the dollar may decrease in the market and investors may abandon Bitcoin and similar risky assets. Investment firm Invesco thinks 2022 will be a crypto winter.
Bitcoin had soared from around $33,000 in early 2021 to $69,000 in November, closing the year around $46,000. Bitcoin was trading at $ 35,400 at the time of this news. While Bitcoin has lost 18% in the last 1 week, it has lost around 1% in the last 24 hours.
In Ethereum, the situation is no different. Ethereum last saw its ATH 2 months ago, reaching $4878. At the time of this news, it was trading at $ 2477. Since Ethereum made ATH, it has lost 49% of its value since then. While Ethereum has lost 25% in the last 1 week, it has lost around 1.5% in the last 24 hours.
Terra on Ascension
As the market crashes, there is one token that continues to rise: Terra LUNA. Although Terra has decreased by 19% in the last week, it has increased by 17% in the last 24 hours. Terra made his last ATH 27 days ago at $103. Terra has since lost 33% of its value.
Solana is dealing with technical glitches again. Block production stopped on the Solana network again yesterday. Solana has lost about 3% in the last 24 hours. Another altcoin that has increased in the last 24 hours is Shiba Inu. SHIB price is up 18% in the last 24 hours. Another boost came from Sandbox. SAND price is up 4% in the last 24 hours.