RATE Group | Cryptocurrencies lose nearly $21 billion in total market cap in Sunday selloff
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Cryptocurrencies lose nearly $21 billion in total market cap in Sunday selloff

09 Mar Cryptocurrencies lose nearly $21 billion in total market cap in Sunday selloff

Posted at 07:36h in Cryptocurrency News by

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Cryptocurrencies were not immune from the massive selloff late Sunday, losing nearly $21 billion in market capitalization as oil prices plunged and global markets sank.

The total value of the world’s cryptocurrencies was about $251.5 billion as of Saturday night, according to CoinMarketCap.com. Twenty-four hours later it was down to $230.8 billion.

While Sunday’s moves were sharp, crypto prices have been falling over the past month, as coronavirus fears have rattled global markets.

Cryptos weren’t alone in having a miserable Sunday: crude oil prices
CLJ20,
-27.64%
plunged 30% as a price war between Saudi Arabia and Russia appeared to break out, and Dow Jones Industrial Average
YM00,
-4.86%
and S&P 500 futures
ES00,
-4.89%
sank.

See: U.S. stock futures fall as crude oil prices plunge 25% on price-war fears

The price of bitcoin
BTCUSD,
-4.45%
…

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