Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
Oil Prices
Recent Oil Price Crash Sees the Crypto Market Count $26B Loss
On March 9, 2020, a report by CNBC showed that the cryptocurrency industry lost more than $26 Billion in a day, after the recent oil prices collapse, which dropped by almost 30%. Cryptocurrency holders rushed to sell off their stocks after North Sea’s extracted oil benchmark Brent Crude’s futures fell by 34% to sell at $27.34 a barrel, recording its lowest price in four years. Bitcoin, the leading cryptocurrency by market capitalization, crashed by 8%, together with significant altcoins, including…
5 years ago