Crypto Market Crash: 22 lakh crores of crypto investors drowned in a week

The crypto market is tearing out investors everyday. From bitcoin to litecoin and polkadot, almost all the cryptocurrencies in the top-10 have been seeing a strong decline for a long time. The recent thing is that this week the total market cap of cryptocurrencies has come down to one trillion dollars. On January 10, the market cap of crypto was $ 1.87 trillion, which came down to $ 88 trillion by Saturday. Meanwhile, the price of bitcoin and ethereum is making new records to be broken with each passing day.

Crypto Market Crash, Bitcoin falling down

The price of the world's most popular cryptocurrency, bitcoin, has fallen by nine percent during the last 24 hours and its price has come down by Rs 1,53,584 to Rs 16,09,188. At this price, the market capitalization of bitcoin has also fallen to $31.4 trillion. Apart from this, the price of Ethereum, the second most preferred cryptocurrency after bitcoin, has also declined by 9.23 percent and it has fallen by Rs 8,499 to Rs 83,618. With this, its market cap has also slipped to 10.5 trillion. It is also worth noting that in the midst of the continuing decline from the past days, the Tether Coin, which is trading in continuous gains, has now come down and it has come down marginally to Rs 83.43.

Investors have lost their sleep due to this huge fall in the crypto market which has sunk 22 lakh crore rupees in a week . The prices of most cryptocurrencies have declined throughout this week. In the last seven days alone, those investing in the cryptocurrency market have lost Rs 22 lakh crore. This week has proved to be very bad not only for the crypto market but also for the stock markets and investors from America to Indian markets have suffered heavy losses. Bitcoin and Ethereum have fallen so far from their highs that there is little hope of a recovery at the moment.

Decline in these currencies including Binance

Binance Coin is also in bad shape in this period of decline in the crypto market. It has seen a decline of eight percent in a single day and its price has fallen by Rs 1369 to Rs 16,947. Talking about Ripple, it has registered a decline of seven per cent and Solana by 7.89 per cent. Dodgecoin's price has fallen by 6.26 per cent to Rs 4.54. With this, the price of Polkadot included in the top-10 has come down by 8.11 percent to Rs 565. The price of Avbench has also come down sharply and it has slipped 7.37 per cent to Rs 1,270. Talking about Shiba Inu, its price has fallen by five per cent to Rs 0.000655 and Litecoin has fallen by 3.37 per cent to Rs 3,783.