Bitcoin Dips Below $44K, Crypto Economy Drops 4.5%, Traders Rush to Stablecoins

The terms of bitcoin dropped beneath the $44K portion connected Wednesday to $43,678 per portion arsenic the full crypto-economy has shed billions successful value. At the clip of writing, the wide crypto system is down 4.5% arsenic it dipped to $2.25 trillion successful value.

Bitcoin and Crypto Economy Sheds Billions, Crypto Fear & Greed Index Indicates ‘Extreme Fear’ Is successful the Air

• Bitcoin (BTC) slid successful worth today, astir 5.4%% during the past 24 hours. Just aft 3:00 p.m. (EST) prices dipped from $46K to $43,678 per unit. BTC has managed to leap supra the $44K terms portion against the U.S. dollar.

BTC/USD astatine 4:30 p.m. (EST). At the clip of publication, BTC is presently trading hands for $43,955 per unit.

• The full crypto-economy of much than 12,000 crypto assets is down 4.5% and astir $2.25 trillion successful value. Leading assets similar ethereum (ETH) dipped 5.9% and solana (SOL) shed 7.8%.
• At the clip of penning BTC has $25.9 cardinal successful planetary commercialized measurement and tether (USDT) commands $53 cardinal successful planetary swaps. The biggest loser successful the top-ten crypto markets was terra (LUNA) arsenic it shed 9.2%.

ETH/USD connected January 5, 2022 astatine 4:30 p.m. (EST). Ether’s terms is coasting on astatine $3,596 astatine the clip of writing.

• Crypto assets that didn’t get affected by BTC’s downward descent see chainlink (LINK), olympus (OHM), and leo token (LEO). Convex concern (CVX), spell token (SPELL), and axie infinity suffered the biggest losses during the marketplace rout.
• The stablecoin marketplace captures $58.8 cardinal of today’s $98.5 cardinal successful trades. Out of the $2.25 trillion today, stablecoins correspond $166.4 cardinal of the value.
• Currently, BTC’s marketplace headdress is astir $836.2 cardinal successful worth portion ethereum’s (ETH) is $427.7 billion. BTC dominance has dropped importantly and to the lowest constituent successful much than 3 and fractional years.
• BTC dominance contiguous is 37.5% the lowest its been since June 2018, portion ETH dominance is 19.2%.
• At property time, BTC is holding supra $44K per portion but has a $ 24-hour scope of $46K to $43.7K connected Wednesday. Stablecoins person besides been feeling the brunt arsenic galore are trading a cent oregon 2 nether the $1 peg.

• The stablecoin USDC and its marketplace valuation of astir $42.6 cardinal is present the sixth-largest marketplace headdress today. USDC has seen $2.6 cardinal successful planetary commercialized measurement during the past 24 hours and is trading for $0.99 per unit.
• Metrics from the Crypto Fear & Greed Index amusement “extreme fear” is the sentiment for contiguous with a people of 24 astatine the clip of writing.

What bash you deliberation astir today’s marketplace action? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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