Cryptocurrency prices fall today after rising with two straight sessions Bitcoin Hovering below $44,000. The world’s largest and most popular digital token fell 0.4% to $43,892. Bitcoin is down about 5% so far in 2022 (Year-to-date or YTD), while it is still more than 36% away from its all-time high of $69,000 in November 2021.
Meanwhile, according to CoinGecko, the global cryptocurrency market capitalization remains above $2 trillion today, even though it was down 0.5% at $2.09 trillion, dragged down by the fall in crypto prices today.
Ether, the coin tied to the Ethereum blockchain and the second largest cryptocurrency by market capitalization, also fell more than 1.6% to $3,103. Similarly, Binance Coin fell almost 5% to $412.
The price of Dogecoin is down more than 6% to $0.15, while the Shiba Inu is down more than 7% to $0.000031. Stellar, Avalanche, Cardano, Polygon, Terra, Polkadot, Solana among other coins lost their performance in the last 24 hours with price cuts, however, XRP rose marginally.
According to a report by digital asset manager CoinShares, the crypto market last week marked the third week of a total inflow of $133 million. Bitcoin led all inflows with $71 million, the largest and third straight week of inflows since the beginning of December, with a total of $108 million.
Ether, on the other hand, posted a net outflow of $8.5 million in the week ended February 4th, its 9th straight week of outflows, taking a total of $280 million. According to CoinShares, this represents 2.2% (AUM) of assets under management.
(with inputs from agencies)
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