Bitcoin crashes over 11% in biggest weekly loss since 2022
What's the story
Bitcoin has slipped 11.45% in the past 24 hours to trade at $53,628.72. It is nearly 23% lower than the week before.
The second most popular token, Ethereum, is down 19.47% from yesterday and is trading at $2,338.17. From last week, it is down 30%.
The market capitalization of Bitcoin and Ethereum now stands at $1,056 billion and $281 billion, respectively.
Altcoins
How have other popular cryptocurrencies moved today?
BNB is trading at $440.38, a 16.41% decrease from yesterday and 25.51% lower than last week.
XRP is currently trading at $0.44 after falling down 14.27% in the last 24 hours. It is 21.36% down from last week.
Cardano and Dogecoin are trading at $0.33 (down 14.93%) and $0.099 (down 14.77%), respectively.
Other tokens
Solana is down by almost 36% since last week
Solana, Polka Dot, Shiba Inu, and Polygon are currently trading at $124.24 (down 13.14%), $3.98 (down 20.97%), $0.000011 (down 13.95%), and $0.33 (down 18.82%), respectively.
Based on the weekly chart, Solana has slipped 35.83% while Polka Dot has declined by 31.74%.
Shiba Inu's value has declined by 29.46% in the last seven days whereas Polygon is down 28.79%.
Data
Today's top 5 losers
The biggest losers of the day are Bittensor, Ethereum Name Service, Lido DAO, Arbitrum, and KuCoin Token. They are trading at $191.33 (down 23.54%), $15.91 (down 22.21%), $1.04 (down 22.20%), $0.44 (down 22.08%), and $6.88 (down 21.86%), respectively.
DeFi
Here are today's leading DeFi tokens
DeFi, which is short for decentralized finance, is related to global, peer-to-peer financial services on public blockchains.
Avalanche, Chainlink, Dai, Internet Computer, and Uniswap are among the most popular DeFi tokens. They are trading at $18.95 (down 16.72%), $9.24 (down 21.06%), $0.99 (up 0%), $6.97 (down 11.55%), and $5.41 (down 18.52%), respectively.
NFT
Take a glance at today's top 5 NFT tokens
Non-fungible tokens or NFTs are cryptocurrencies that cannot be exchanged for one another like othe tokens due to their lack of fungibility.
Internet Computer, Artificial Superintelligence Alliance, Stacks, Immutable, and Render are some of the popular NFT tokens. They are currently trading at $6.97 (down 11.55%), $0.88 (down 18.15%), $1.22 (down 17.77%), $1.01 (down 16.25%), and $3.96 (down 20.57%), respectively.
Market outlook
Total cryptocurrency market capitalization
The current global crypto market cap is $2.05 trillion, a 4.59% increase over the last day. The total crypto market volume over the last 24 hours is $77.9 billion, which marks a 6.9% increase.
The global cryptocurrency market valuation was $2.09 trillion last month, in comparison to $2.35 trillion three months ago.