The cryptocurrency market lost more than $ 350 billion in value overnight, with cryptocurrencies such as Bitcoin (BTC) and Ether (ETH) dropping by 15-30 percent on May 19.
After the last drop on Tuesday night, the crypto market has lost more than $ 750 billion in value compared to a week ago. The market has lost 30 percent compared to its peak value of $2.5 trillion on May 12.
Bitcoin fell 15 percent on the morning of May 19, falling from $ 45,632 to $ 38,787. Crypto money lost 32 percent throughout the week. Bitcoin had last seen this much depreciation in late 2017, when the bull market started to come to an end.
Ether, on the other hand, slumped 19 percent from $3,562 to $2,881. The weekly loss of crypto money was thus 33.8 percent.
In other altcoins, the ones that experienced the biggest loss of value were the crypto coins that recently gained value, Internet Computer (ICP) lost 32 percent in the last 24 hours and 61 percent throughout the week. After this decline, ICP also lost its place among the top 10 cryptocurrencies in terms of market capitalization.
Nexo’s (NEXO) lost 30 per day, and 43 per cent weekly.
Shiba Inu (SHIB), which fell 29 percent during the day, lost 66 percent throughout the week.