Cryptocurrency market turned into the red zone and fixes losses

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1 min.

Over the past 24 hours, almost all of the top 10 crypto assets by market capitalization have recorded losses. The exception was XRP, which added 1.1%.

As of Monday afternoon, June 5, the crypto market is seeing a net outflow of around $24 billion. The total market capitalization has dropped from $1.155 trillion to around $1.131 trillion.

The market capitalization of bitcoin and ether fell by1.84% and 2.04%, to $518.4 billion and $224.4 billion, respectively. On the afternoon of June 5, the BTC is trading at $26,736, while the overall dominance of Bitcoin in the market has fallen to 45.8%.

Taking into account losses over the past day, the market value of ETH is about $1870. At the same time, the share of ether in the crypto market increased from 19.7% to 19.8%.

In 24 hours, BNB, ADA and SOL showed the largest rebound, losing 2.35%, 2.21% and 2.31% respectively.

The adoption of a new ceiling on the US government debt could encourage some crypto investors to move funds from risky assets to safer ones, such as government bonds.

On Saturday, June 3, the analytical service Kaiko provided
data, according to which the volume of trading on centralized cryptocurrency exchanges decreased to $5 billion per day. The same indicators were in 2020, before the massive increase in the bitcoin rate.