{"id":29,"date":"2022-07-11T01:09:28","date_gmt":"2022-07-11T01:09:28","guid":{"rendered":"http:\/\/live-script.xyz\/70-to-90-down-crypto-economys-decline-shakes-out-2-trillion-in-8-months\/"},"modified":"2022-07-11T01:09:28","modified_gmt":"2022-07-11T01:09:28","slug":"70-to-90-down-crypto-economys-decline-shakes-out-2-trillion-in-8-months","status":"publish","type":"post","link":"https:\/\/live-script.xyz\/70-to-90-down-crypto-economys-decline-shakes-out-2-trillion-in-8-months\/","title":{"rendered":"70 to 90% Down \u2014 Crypto Economy\u2019s Decline Shakes Out $2 Trillion in 8 Months"},"content":{"rendered":"
During the past eight months, crypto assets have shed enormous value against fiat currencies like the U.S. dollar. Bitcoin has shed 69% since the leading crypto asset\u2019s all-time high on November 10, 2021, when the digital currency\u2019s value tapped $69K per unit. The crypto economy has seen some healing as the market capitalization of all 13,413 tokens in existence is hovering just below the $1 trillion mark.<\/strong><\/p>\n At the time of writing the entire crypto-economy is worth $983.65 billion after it lost more than $2 trillion during the past eight months. Every major crypto asset in the top ten standings (except for stablecoins) has shed well over 65% or more in USD value.<\/p>\n For instance, bitcoin (BTC<\/a>) reached a lifetime high at $69K and today, it\u2019s down 69% from that price high. Roughly 46.21% of BTC<\/a>\u2019s losses took place during the past 90 days. BTC<\/a>\u2019s market dominance is coasting along above the 40% range at 41.352%.<\/p>\n The second-largest crypto asset in terms of market valuation ethereum (ETH<\/a>) is down 75.46% from the high it saw eight months ago. ETH<\/a> traded hands for $4,850 per unit on November 10, 2021. 60.11% of ethereum\u2019s losses were recorded during the last three months.<\/p>\n Over the last 12 months, ETH<\/a> has shed 44.8% and its market capitalization of $142.40 billion represents 14.5% of the entire crypto economy. An interesting fact about 2022\u2019s crypto-economy is that three stablecoin assets are now top ten contenders.<\/p>\n When this phenomenon first occurred<\/a>, the stablecoin terrausd (UST) was still trading for $0.99 to $1 per unit. Moreover, the Binance-issued stablecoin BUSD was close to entering the top ten as well on May 6, 2022. Then UST de-pegged and the token plummeted to $0.00601 per unit on June 18, 2022.<\/p>\n Since then, BUSD managed to climb a few positions, and the stablecoin\u2019s market cap is now ranked in the sixth position. Just above BUSD is Binance\u2019s BNB<\/a> token which is ranked in the fifth position this weekend.<\/p>\n BNB<\/a>\u2019s all-time high (ATH) was more than eight months ago as it reached $686 per unit on May 10, 2021. BNB<\/a> is down 65.6% today from the ATH and year-to-date BNB<\/a> has lost 25.7%. XRP<\/a>\u2019s ATH was four years ago and today it is 90% lower than the $3.40 per unit high XRP<\/a> saw on January 7, 2018.<\/p>\n Cardano\u2019s (ADA<\/a>) ATH was on September 2, 2021, or ten months ago when it reached $3.09 per coin. ADA<\/a> is down today 84.7% from the ATH and 25.3% of the value was lost during the past 30 days.<\/p>\n Solana (SOL) reached an ATH four days before BTC<\/a>\u2019s and ETH<\/a>\u2019s price highs when it reached $259 on November 6, 2021. SOL is now down 85.6% from that price high and 6.6% was shaved during the last month. In the tenth-largest position, in terms of cryptocurrency market caps, dogecoin (DOGE), is down around 90.7% from the token\u2019s price high.<\/p>\n Dogecoin\u2019s ATH was recorded on May 08, 2021, when DOGE tapped $0.731 per unit that day. 15.1% of the meme coin\u2019s value has been lost during the past month. Dogecoin\u2019s market dominance today is 0.921%, while solana\u2019s (SOL) dominance rating is 1.301%. <\/span><\/p>\n Cardano\u2019s market valuation equates to 1.619% of the crypto economy and xrp (XRP<\/a>) is around 1.667%. BNB<\/a> commands 3.934% of the crypto economy\u2019s USD value and besides ETH<\/a>, BTC<\/a>, and stablecoins the combined market cap of DOGE, SOL, ADA<\/a>, XRP<\/a>, and BNB<\/a> equates to 9.442% of today\u2019s $983 billion value.<\/p>\n What do you think about the top ten coins and how much they have lost since the all-time price highs? Let us know your thoughts about this subject in the comments section below. <\/strong><\/em><\/p>","protected":false},"excerpt":{"rendered":" During the past eight months, crypto assets have shed enormous value against fiat currencies like the U.S. dollar. Bitcoin has shed 69% since the leading crypto asset\u2019s all-time high on November 10, 2021, when the digital currency\u2019s value tapped $69K per unit. The crypto economy has seen some healing as the market capitalization of all […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"\nToday\u2019s Top 10 Crypto Assets Have Lost 70 to 90% in USD Value<\/h2>\n
Bitcoin and Ethereum Command Over 55% of the Crypto Economy, While DOGE, SOL, ADA<\/a>, XRP<\/a>, and BNB<\/a> Represent Close to 10%<\/h2>\n