Sudden Recession: The Market Lost $ 15 Billion in Just a Couple of HoursNovember 13, 2022
According to CoinMarketCap, from 17:00 to 19:30 on February 24, the total market capitalization of cryptocurrencies fell by almost $ 15 billion – from $ 141.8 billion to $ 127 billion due to a sudden decline in prices in this market.
The price of Bitcoin (-5.72%) dropped sharply from $ 4,139 to $ 3,804 (at the time of the preparation of this post), and all the main cryptocurrencies of the top 10 turned out to be “in red” (except for the stableblock USDT for obvious reasons).
Also in the last 24 hours, the rate of ethereum decreased by -8.56%, and during the preparation of this post, the broadcast was trading at the level of $ 140. Lightcoin (-11.21%) also suffered significant losses, dropping from $ 53 to $ 44. The reasons for the sudden downturn in the market are not very clear, as in the last few hours, it seems there have been no important events that could have provoked such a decline.