How much money was wiped off the cryptocurrency market in 24 hours?

$200 Billion Was Wiped Off The Cryptocurrency Market In 24 Hours 12/01/2021 What seemed to be a promising investment, Bitcoin and other digital coins suddenly tanked, wiping some $200 billion off the cryptocurrency market. The market capitalization or value of the cryptocurrency market down from $1,06 trillion to $880 billion, in just one day.

What is happening to the crypto market?

A market-wide crash has brought Bitcoin toppling down under US$60,000 over the last 24 hours and knocked up to 10 per cent off Ethereum, Binance's BNB, Solana, Cardano and Ripple's XRP. The sudden fall wiped around $200 billion from the combined crypto market, after it hit a record high last week of around US$3 trillion.

What happened to bitcoin?

At one point bitcoin fell about 17 percent to trade around $22,764. Some of those losses were later recovered, and around 4 p.m. on Wall Street bitcoin stood at $23,351 for a loss of 15 percent. Over the weekend and into Monday morning, more than $200 billion had been wiped off the entire cryptocurrency market.

Is the crypto market sell-off hurting Celsius?

But the crypto market sell-off has hurt Celsius. The company had $11.8 billion worth of assets as at May 17, down from more than $26 billion in October last year, according to its website. CEL, which is Celsius’ own coin, is down more than 50% in the last 24 hours, according to CoinGecko.