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The cryptocurrency market started the day with a decline due to the depreciation in the leading cryptocurrency Bitcoin. After the recent losses, Bitcoin (BTC) fell to $ 27,900 and Ethereum (ETH) fell to $ 1850. On the other hand, Pepe (PEPE), one of the prominent cryptocurrencies of the week with the rises it recorded last week, has caught a strong downward momentum in recent days.
Cryptocurrency Market in Decline
Bitcoin (BTC), the leading cryptocurrency that has lost over 3% of its value in the last 24 hours, started trading at $27,900. The cryptocurrency market started the day with a decline as Bitcoin fell below $28,000 and most altcoins in the cryptocurrency market have accelerated their losses since the morning hours. Ethereum (ETH) started trading at $1850 after its recent losses.
The total market capitalization of the cryptocurrency ecosystem fell to $1.15 trillion, according to CoinMarketCap (CMC) data. In addition, volatility in the cryptocurrency market has also increased significantly. According to data shared by Coinglass, short and long positions worth approximately 150 million dollars were liquidated in the last 24 hours.
Pepe Coin (PEPE), which reached $ 0.0000042 on Friday last week, lost nearly 50% of its value from these levels on Friday and started the day with a decline.
Value Loss Approached 50%
Pepe (PEPE), which is listed and traded on cryptocurrency exchanges with high trading volume, including Binance, started the week with a strong downward momentum, despite recording high rates of value increases last week. Many analysts have stated that these rises in speculative cryptocurrencies in recent days may be a harbinger of a major decline after a short period of time. As a result, Pepe coin, which recorded high rates of value increases at the beginning of last week, has lost nearly 50% of its value since Friday.
Pepe Coin (PEPE) started the new week with a decline and fell to $ 0.0000022 after the recent declines. With these declines, Pepe Coin ranked second among the 100 cryptocurrencies with the highest market capitalization according to CMC data, among the cryptocurrencies with the highest rate of depreciation in the last 24 hours.
