Crypto

Crypto economy loses $102 billion in 30 days – BTC and SOL shed the most losses – Reuters

A large portion of digital currencies have lost value over the past 30 days and the worst performing crypto among the ten most valuable coins in the market was solana, losing 19.12% against the US dollar. Bitcoin was the second biggest loser in the top ten, with the major crypto asset losing 12.71% in USD value this month.

Despite Mid-August Pump, Crypto Economy Shrinks $102 Billion Last Month

Crypto assets saw a decent surge on August 14, 2022, as Bitcoin (BTC) jumped over the $25,000 area and Ethereum (ETH) exceeded $2,000 per unit. Despite the jump in value, BTC lost 12.71% in the last 30 days from Wednesday August 3, 2022 to Friday September 2, 2022.

Crypto Economy Loses $102 Billion in 30 Days - BTC and SOL Lost the Most Losses
BTC/USD daily chart.

Ethereum’s monthly loss was less abrupt after ETH suffered a hit of 2.75% against the US dollar. BNB lost 7.02%, XRP fell 10.53% against the dollar, and ADA slipped 9.34%.

Crypto Economy Loses $102 Billion in 30 Days - BTC and SOL Lost the Most Losses
ETH/USD daily chart.

Solana (SOL) was the biggest loser of the top ten crypto assets, as it lost 19.12% against the dollar. The tenth largest crypto asset, peas (DOT)lost 8.93% in the last 30 days.

Crypto Economy Loses $102 Billion in 30 Days - BTC and SOL Lost the Most Losses
SOL/USD daily chart.

Historical statistics from coinmarketcap.com indicate that the global cryptocurrency market capitalization as of August 3 was $1.06 trillion and as of September 2, the overall valuation of the entire crypto economy was less than 1 trillion to $982.53 billion.

Crypto prices were also different 30 days ago as bitcoin (BTC) was trading at $22,829 per share. Ethereum (ETH) was trading for $1,614 per coin, and BNB cost $282 each. The best performing crypto asset on August 3 was Optimism (OP), as it was up 18.24% against the US Dollar.

Crypto Economy Loses $102 Billion in 30 Days - BTC and SOL Lost the Most Losses
ZCH/USDT daily chart.

However, OP lost 38.2% against the dollar this month. Lido dao (LDO) was up 18.04% 30 days ago, but lost 17.7% against the dollar this month. Chiliz (CHZ) was down 9.87% on August 3, but over the past month CHZ has gained 64.7% against the USD.

The Theta Network (THETA) was down 5.45% a month ago, and in the past 30 days it has lost 17.9% in USD value. 30 days ago the total value locked (TVL) in decentralized finance (defi) was $89.81 billion and today the TVL is $59.58 billion.

Makerdao had blocked $8.53 billion and as of September 2, Makerdao’s TVL has now fallen to $7.96 billion. Lido had $7.39 billion 30 days ago and today it’s around $6.96 billion. The TVL of inter-chain bridges is $9.11 billion, down 25.1% this month, and polygon bridges dominate by $4.21 billion.

Keywords in this story

$CHZ, ada, AVAX, Bitcoin, bnb, BTC, Cardano, Chiliz, Crypto, crypto assets, crypto economy, Cryptocurrencies, DOT, ETH, Ethereum, lido Dao, SOL, Tether, USDT, XRP

What are your thoughts on the price action of the crypto economy over the past 30 days? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is the news manager for Bitcoin.com News and a fintech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written over 5,700 articles for Bitcoin.com News about disruptive protocols emerging today.




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