The Market Dips After China Reiterates Its Ban On Crypto

gold-colored Bitcoin

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This Week’s Summary

  • The cryptocurrency market looks to end the week at a total market capitalization of $1,826 trillion.
  • Bitcoin (BITCOMP) is down by over 10% after a rough week.
  • Ethereum (ETH-X) lost more than 13% of its value over the week.
  • XRP (XRP-X) has dipped by roughly 14% over the past seven days.
  • Almost all altcoins are drowning in a sea of red at the moment.
  • The DeFi sector lost almost $6 billion from the total value protocols (TVL).

Crypto Trends for the Week of Sept. 20–26, 2021: Market Analysis and Performance

September ends in the worst possible way for the cryptocurrency market. In comparison with last Sunday, most assets have lost precious gains. Furthermore, the market capitalization dropped by almost $300 billion. At the moment, it lies a little over $1.8 trillion and well below the coveted $2 trillion threshold.

Bitcoin is undoubtedly one of the sore losers this week. Last Sunday, it was an inch away from the $50 thousand mark. Today, it is slipping fast hovering around $40,000, which it briefly reached on Wednesday. In recent hours, the bulls have been pushing strongly to keep it trading in the green. However, it is unclear how long their surges will last. Bitcoin has been recently trading at around $43,242.

Ethereum has also fallen from grace. The second crypto in the command used to slip by roughly 3% every seven days in recent weeks. However, this week it recorded a 13% value drop. Ethereum has been recently trading at around $3,053.

Ripple’s XRP continues its disappointing downfall. After struggling to remain above the $1 level for weeks, the coin finally gave up the fight. Following a 14% loss, XRP has been recently trading at around $0.94.

Altcoins and DeFi

Although far from this week’s winner, Cardano (ADA-X) records one of the slightest value losses this week, roughly 4%. Nevertheless, it still cannot take pride in unanimous investors’ trust. ADA has been recently trading at around $2.26.

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Disclaimer: None of the information you read on Crypto Adventure should be taken as investment advice. Our writers’ and journalists’ opinions are solely their own. Read our full ...

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