Digital currency markets have dropped in value over the last three weeks, losing $25 billion since mid-August. Market prices have been creeping downward on thin global trade volume and the last two months of volatility seem to be taking a toll on short-term bullish optimism.
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Cryptoconomy Loses $25 Billion in Three Weeks
Cryptocurrency market confidence seems to be dwindling as many digital assets have struggled to surpass higher price ranges over the last few weeks. Three weeks ago, market prices were much higher and the market cap was roughly $282 billion for all the crypto markets combined. On Sep. 11, the global valuation for all 2,000+ cryptocurrencies is now $261 billion, indicating a loss of over 7%. Wednesday’s trading sessions show bitcoin core (BTC) is hovering just above the $10K zone between $10,025 to $10,225 over the last 24 hours.
BTC is seeing $15.7 billion in global trades and has a market valuation of roughly $180 billion or 69% of the entire crypto market cap. Ethereum is following behind BTC and hovering around $177 per coin. ETH markets are down 1.5% today and are down 0.06% over the last seven days. XRP markets lost 2.3% today and 2.2% for the week as each XRP is swapping for $0.25. Lastly, the fifth largest market valuation still belongs to litecoin (LTC) as each coin is swapping for $69. LTC markets are down 1.87% today but have gained 2.6%
