$167 billion in cryptocurrency losses in the first 15 days of...

The emergence of purchasing power, with Elon Musk’s announcement of accepting payment in those currencies for most of the Tesla company’s electric car products, reduced the losses in the market value of digital currencies to about $ 167 billion during the first 15 days of 2022, but the increase in official statements confirming the Federal Reserve’s move to raise interest rates more than 3 times the borrow keeps it in negative territory.

According to data from the CoinMarketCap website, which specializes in monitoring the performance of digital currencies, the market value of cryptocurrencies decreased by 7.4% to reach about $2.083 trillion at the end of trading on Saturday, January 15th, compared to $2.25 trillion at the end of December trading. 2021.
Thus, digital currencies reduced their market losses by about 173 billion dollars, equivalent to 50.8%, from 340 billion dollars during the first ten days of the new month.

The price of the “Bitcoin” currency declined in that period by 8.5%, to about $3.7 thousand, after its price fell from the level of $46.86 thousand at the end of trading last year to about $43.17 thousand at the end of Saturday’s trading.

The CEO of “Namazon for Economic Research” company, financial expert Iyad Aref, said that the volatility of digital currencies may continue amid increasing statements regarding raising interest rates on borrowing, which may push individual investors to carry out selling operations and turn to some other investment tools until the conditions in the cryptocurrency market become clear during These changes, it is likely that the rise of the Bitcoin currency will not continue above 45 thousand dollars and may fall to the levels of 40 thousand dollars, which by abandoning it may touch the levels of 39 thousand dollars or less to be eligible after that to levels that may approach 35 thousand dollars.

The “Ethereum” currency declined in that period by 15.9%, losing about $630, after its price fell from the level of $3.96 thousand at the end of December of last year to the level of $3.33 thousand during Sunday’s trading.

The BNP currency, which occupies the third place among the largest digital currencies in terms of market value, recorded a decline in that period by 3.4%, losing about 16.7 dollars, after its price fell from the level of 511.7 dollars at the end of trading last year to the level of 494.99 dollars in The end of trading yesterday, Saturday.

The “Rebel” currency also declined in that period, amounting to 6.02%, losing about $0.05, after its price fell from the level of $0.83 to about $0.78.

The “Cardano” currency recorded a decline of 3.8% during that period, after its price fell from the level of 26.72 dollars to about 27.74 dollars.

The Solana currency also declined during that period, amounting to 13.2 percent, losing about $22.5, after its price fell from the level of 170.3 dollars to about 147.8 dollars.

Dogecoin recorded a decline of 7.8% during that period, after its price fell from the level of $0.1705 to about $0.1851.

The “Shiba Inu” currency also declined in that period, amounting to 7.5%, losing about $0.00000253, after its price fell from the level of $0.0003341 to about $0.00003088.

The “Afax” currency, affiliated to the Avalanche platform for decentralized finance applications and financial assets, recorded a 14.6% decline during that period, after its price fell from the level of $ 109.27 to about $ 93.32.

While the “Terra Luna” currency rose by 2.45% during that period, after its price rose from the level of 85.47 dollars to about 87.57 dollars.

The performance of the top 10 cryptocurrencies during the first 15 days of 2022:

Bitcoin – 8.5%

Ethereum -15.9%

Avax -14.6%

Solana -13.2%

Doug Queen -7.8%

Shiba Inu -7.5%

Ripple -6.02%

Cardano -3.8%

BNP Coin -3.4%

Terra Luna +2.4%