Cryptocurrency

Almost half a trillion dollars was wiped off the cryptocurrency market over the weekend.

The massive crash saw the market cap of the more than 15,200 coins drop from $2.62 trillion on Friday morning to $2.26tr at the time of writing on Monday (7am UK).

Bitcoin (BTC) dropped like a stone from $56,900 on Friday to just above $48,400, which leaves it 16% down over seven days with a market cap of $920 billion.

Ethereum (ETH), the world’s second most valuable token, did not suffer to that extent but still sank from $4,575 to $4,115. The smart contract blockchain platform is 5% down in a week.

The altcoins could not avoid being caught up in the free fall.

Ripple (XRP) shed 20 cents to 78c and is 21% down in a week, while Cardano (ADA) plunged from $1.67 to $1.32 – 17% down over seven days – and Solana (SOL) dropped from $235 to $190, an 8% fall in a week.

 

Polkadot (DOT) fell from $36 t0 $27, leaving it 26% down over seven days, while Binance Coin’s (BNB) loss was $70 to $550, which is 10% down on a week ago.

Terra (LUNA) cracked the top 10 of the most valuable currencies, with its own drop from $69.50 to $61.50 leaving it up 28% on last Monday’s price.

Terra’s upcoming tax and reporting application, which will be able to connect with popular fiat-focused software, has driven its growth.

It is now worth almost $2bn more than Dogecoin (DOGE), which was above 21c on Friday but now sits below 17c and is 19% down in a week.

 

SHIBA INU (SHIB), the Ethereum-based spinoff from Dogecoin, is 11% down over seven days and remains below Avalanche in the market cap standings. AVAX dropped from $109 on Friday to $81.72 and is 27% down in a week.

To see how the valuations of the biggest movers and shakers – and main coins – changed last week, click here.

For valuations of the top 250 coins by market cap (updated every 15 minutes), their market cap plus 24-hour price change and volume traded, see below.