The total capitalization of the cryptocurrency market has decreased by 1.92% over the past 24 hours, falling to 2.65 trillion US dollars, APA-Economics reports.
On the CoinMarketCap platform, the price of Bitcoin (BTC), the leading cryptocurrency of the market, decreased by 1.70% over the past 24 hours to 79,668 US dollars, while the price of Ethereum (ETH) decreased by 1.58% to 2,263 US dollars.
Digital assets linked to the price of gold also slightly declined. The price of PAX Gold (PAXG) decreased by 0.09% to 4,688 US dollars, while the price of Tether Gold (XAUt) decreased by 0.16% to 4,687 US dollars.
Among other major cryptocurrencies, the price of BNB decreased by 1.61% to 668.7 US dollars, the price of Zcash (ZEC) decreased by 5.22% to 527.9 US dollars, the price of Bitcoin Cash (BCH) decreased by 1.95% to 433.8 US dollars, the price of Monero (XMR) decreased by 3.27% to 399.9 US dollars, while the price of Bittensor (TAO) decreased by 3.78% to 295.8 US dollars.
The value of the CoinMarketCap 20 index (CMC20) also decreased by 1.97% to 159.97 points.
According to analysts, the decline in the market is linked to uncertainty regarding inflation and interest rates in the United States, investors taking profits, and weakening interest in risky assets.