The crypto winter has reached new levels of coldness, as trading volumes decreased significantly during the past 24 hours, and the momentum in the cryptocurrency market declined after bankruptcies and collapses, in addition to billions of dollars in withdrawals, hit a number of prominent names in the industry.
Over the past 24 hours, trading values have decreased cryptocurrency By more than 55% in total, to record $ 22.4 billion. Stable currencies accounted for more than 92% of the trading value of $20.7 billion, while Bitcoin controls 39.8% of the cryptocurrency market capitalization.
This comes after “Bitcoin” fell below the $17,000 level, as it is currently trading at $16,761, down 2.4% in the last 24 hours.
Cryptocurrency exchanges were plagued by declines, as the value of transactions of the 10 largest crypto exchanges decreased on average by more than 63%, which is the level recorded by the largest crypto platform, “Binance”, as its executions fell by 63.05%, to 6.07 billion dollars during the past 24 hours. According to what was seen by “Al-Arabiya.net”.
While the biggest declines were for the cryptocurrency exchange “Bitstamp”, whose operations decreased by 81%, followed by the “Kraken” exchange with executions of $166 million, down 77%.
The ranking of the largest crypto exchanges was as shown in the following table:
Ranking of crypto exchanges in terms of execution losses