Bitcoin leads crypto market decline as week’s loss hits 14%

Total cryptocurrency market capitalisation falls to $2.28trn

Bitcoin traded down by 0.6% on Friday at $49,004, 14% below the level at which it stood a week earlier. 

The market capitalisation of the world’s first and largest cryptocurrency stood 0.7% lower at $926bn (£701bn), having fallen as low as $895bn. Its trading volume stood 4% higher at $29.4bn. 

Ethereum traded down by 3.2% at $4,158, down by 9.7% in the past week. The market capitalisation of the world’s second-largest cryptocurrency fell by 3%, while trading volume stood 42% higher at $26.1bn. 

Among the other prominent cryptocurrencies, Filecoin enjoyed some of the largest gains, rising by 2.8%. Decentraland and XRP suffered some of the largest losses, falling by 8.5% and 7.5%, respectively. 

The capitalisation of the total cryptocurrency market stood 2.1% lower in the past 24 hours at $2.28trn, according to CoinMarketCap. A week earlier, this metric stood at $2.63trn. 

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Biggest gainer

Across the wider digital asset space, Mobius enjoyed the largest gains, rising by 386% to $0.09145. Its market capitalisation stood 386% higher at $50.1m, while trading volume rose by 924% to $1.4m. 

The cryptocurrency has fallen by 92.5% from the $1.23 all-time high it reached in October 2020. 

Biggest loser

Baby Billionaires (3COMMAS) suffered the largest loss, falling by 66% to $0.0001587.  The NFT DeFi token operating on the Binance Smart Chain has seen its market capitalisation fall also fall by 66% to $79,300. 

All prices correct as of 12:30 (GMT). 

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