First Time Since January 2021
Bitcoin Also Drops Over 10%
[Asia Economy Reporter Hwang Seoyul] According to major foreign media reports on the 13th (local time), the global cryptocurrency market capitalization has fallen below 1 trillion dollars for the first time in 1 year and 5 months.
According to the cryptocurrency information site CoinMarketCap, the global cryptocurrency market size on that day was 926 billion dollars (approximately 1,192 trillion KRW), falling below 1 trillion dollars for the first time since January last year.
The cryptocurrency market capitalization showed an unstable trend after peaking at 2.9 trillion dollars (about 3,734 trillion KRW) in November last year. In particular, in the past two months, investors who anticipated that intensified inflation and central bank interest rate hikes would hinder economic growth disposed of risky assets, causing the cryptocurrency market capitalization to decrease by 1 trillion dollars.
The price of one Bitcoin fell more than 10% that day, reaching 23,750 dollars (about 30.59 million KRW) for the first time in 1 year and 6 months. Ethereum also dropped more than 15% to 1,210 dollars (about 1.55 million KRW) per coin.
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