TL;DR Breakdown
- Bitcoin dips 9% lower in the last hour.
- Ethereum has fallen to the market value of $2,788
- Mars Floki Inu continues to rise amidst tense market conditions
- Solana is on a decline this week
Today, the global cryptocurrency market cap fell from more than 9% from $2 trillion to $1.81 trillion. There have been a lot of regulatory issues for the crypto industry in the last few days. People have become more skeptical about how quickly digital assets are becoming more popular.
According to a report, crypto funds lost money for the fifth week in a row. Digital asset investment products lost $73 million for the week ending January 14, the report said.
There will be a lot of attention paid to crypto exchanges when the US Securities and Exchange Commission starts to crack down on digital assets in 2022. Reports from Bloomberg say that Russia’s central bank may also propose a ban on Bitcoin mining and crypto trading, a big step for the country.
Bitcoin dips 9% lower in the last hour
Bitcoin traded below the $39,000 level. It’s tremendous because investors were losing confidence. Over 7% of the world’s most popular and most valuable cryptocurrency by market value lost value. It fell to $38,122 in value. Bitcoin has lost more than 14% of its value since this year.
Source Trading View
Investors are losing faith in Bitcoin because it’s a highly volatile market like crypto, which means it’s either a big win or a significant loss every day. The current market cap for Bitcoin is $39 million, with a 9.23% in the last hour. The estimated trading volume is $728 billion.
Ethereum has fallen to the market value of $2,788
Ether has dropped below $3,000 in value. This is how it looked on Coinmarketcap: It was down more than 12% to $2,815. The token rose about 400% last year but has lost more than 18% in January.
Source Trading View
According to coinmarketcap, Ethereum‘s current market cap is $21 million, representing a 12 percent decrease in the 24-hour timeframe. The projected trading volume is estimated to be $332 billion.
Solana is on a decline this week
This week, the price of Solana has gone down by 17.76%, which is a lot. In the last 24 hours, the price has dropped by 16.13% just in the last hour.
Source Trading View
Solana‘s market value has gone down 17.76 percent in the last hour. Solana’s recent market cap is $39 billion, and the trading volume is estimated to be $280 million, with Solana’s market value at $118 as of this writing.
Mars Floki Inu continues to rise amidst tense market conditions
Amid the tense market state, a new meme cryptocurrency Mars Floki Inu carries its way up the charts by 274% in the last hour’s overview. Despite the market’s relatively not so good performance since the beginning of the year, new coins are constantly rising.
Source Trading View
Floki’s current market cap is $0.7 million, subjecting to a 252 percent increase in the last 24 hours time period. The projected trading volume is estimated to be $3,125. This spike is quite common in the meme category as the majority of the tokens are based on hypes. The token might come crashing as momentum drops.
Final Thoughts
2021 was a busy year for cryptocurrency investors, as the price of Bitcoin hit an all-time high in November, and Ethereum hit a record high in October. While Bitcoin has hit lower than $38,000, Ethereum has hit lower $2,800.
The Federal Reserve says a rate hike may come sooner than expected. Many individuals decided to sell their bitcoins and invest in more reliable ventures. This week, the value of other digital currencies such as ethereum and ripple plummeted.
Cryptocurrency markets may be volatile in 2022. In 2022, investors predict more volatility. Only 5% of your money should be invested in such a volatile asset. Even if you’re a successful investor, “you still have to be ready for that abrupt collapse of more than 50 percent in a week or two.”
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