Cryptocurrency prices today declined after rising for two straight sessions with Bitcoin hovering below $44,000. The world’s largest and most popular digital token was down 0.4% at $43,892. Bitcoin is down about 5% in 2022 (year-to-date or YTD) so far whereas, it is still over 36% far away from its record high of near $69,000 hit in November 2021.
Meanwhile, the global cryptocurrency market capitalisation today remained above $2 trillion, as per CoinGecko, even as it was down 0.5% at $2.09 trillion, dragged by fall in crypto prices today.
Ether, the coin linked to the ethereum blockchain and the second-largest cryptocurrency in terms of market capitalization, also plunged over 1.6% to $3,103. Similarly, Binance Coin fell about 5% to $412.
Dogecoin price tanked more than 6% to $0.15 whereas Shiba Inu fell over 7% to $0.000031. The performance of other coins also plummeted as Stellar, Avalanche, Cardano, Polygon, Terra, Polkadot, Solana prices were trading with cuts over the last 24 hours, however, XRP rose marginally.
The crypto market marked the third week of inflows totaling $133 million last week, according to a report from digital asset manager CoinShares. Bitcoin led all inflows, with $71 million, the largest since early December and the third straight week of inflows, with a total of $108 million.
Ether, on the other hand, posted net outflows of $8.5 million in the week ended February 4, its 9th straight week of outflows, totaling $280 million. That represents 2.2% of assets under management (AUM), according to CoinShares.
(With inputs from agencies)
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