Crypto Economy Loses $102 Billion in 30 Days — BTC, SOL Shed the Most Losses
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Most digital currencies have fallen in value over the past 30 days, and the worst performing crypto among the top 10 coins with the largest market capitalization was the solana, which lost 19.12% against the US dollar. Bitcoin was the second biggest loser in the top 10, with the leading crypto-asset shedding 12.71% against the USD this month.
Despite the mid-August pump, the crypto economy shrank by $102 billion last month
On August 14, 2022, crypto assets saw decent growth as Bitcoin (BTC) jumped above the $25,000 zone and ethereum (ETH) crossed $2,000 per unit. Despite the increase in value, BTC fell by 12.71% in the last 30 days from Wednesday, August 3, 2022 to Friday, September 2, 2022.
Ethereum’s monthly loss was less brutal after ETH took a 2.75% hit against the US dollar. BNB was down 7.02%, XRP was down 10.53% against the dollar, and ADA was down 9.34%.
Solana (SOL) was the biggest loser among the top 10 cryptocurrencies as it lost 19.12% against the dollar. The 10th largest crypto asset, Polkadot (DOT), is down 8.93% in the last 30 days.
Historical statistics from Coinmarketcap.com show that the global cryptocurrency market cap as of August 3 was $1.06 trillion, and as of September 2, the total value of the entire cryptocurrency economy was less than $1 trillion at $982.53 billion.
Crypto prices were also different 30 days ago, when bitcoin (BTC) traded at $22,829 per unit. Ethereum (ETH) traded at $1,614 per coin, and BNB fetched $282 per unit. The best performing crypto asset on August 3rd was Optimism (OP) as it rallied 18.24% against the US dollar.
However, OP has lost 38.2% against the dollar this month. Lido dao (LDO) traded up 18.04% 30 days ago but has lost 17.7% against the dollar this month. Chiliz (CHZ) traded down 9.87% on August 3rd but during the last month, CHZ has traded up 64.7% against the dollar.
The Theta Network (THETA) was down 5.45% a month ago and is down 17.9% in USD over the last 30 days. 30 days ago decentralized finance (defi) total locked value (TVL) was $89.81 billion and today TVL is $59.58 billion.
Makerdao had $8.53 billion locked up, and as of September 2, Makerdao’s TVL has now dropped to $7.96 billion. Lido had a cap of $7.39B 30 days ago, and today it is around $6.96B. Cross-chain bridges have a TVL of $9.11 billion, down 25.1% this month, with polygon bridges dominating at $4.21 billion.
What do you think about the price development of the crypto economy in the last 30 days? Let us know what you think about this topic in the comment section below.