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09/03/2022

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Crypto Economy Loses $102 Billion in 30 Days — BTC, SOL Shed the Most Losses

A great deal of digital currencies are down in value during the last 30 days and the worst performing crypto out of the top ten coins with the largest market valuations was solana, losing 19.12% against the U.S. dollar....

Crypto Economy Loses $102 Billion in 30 Days — BTC, SOL Shed the Most Losses

Crypto Economy Loses $102 Million in 30 Days — BTC, SOL Shed the Most Losses

A great deal of digital currencies are down in value during the last 30 days and the worst performing crypto out of the top ten coins with the largest market valuations was solana, losing 19.12% against the U.S. dollar. Bitcoin was the second biggest loser in the top ten, as the leading crypto asset shed 12.71% in USD value this month.

Despite Mid-August Pump, Crypto Economy Shrank by $102 Billion Last Month

Crypto assets saw a decent rise on August 14, 2022, as bitcoin (BTC) jumped over the $25K zone and ethereum (ETH) surpassed $2K per unit. Despite the jump in value, BTC shed 12.71% in the last 30 days from Wednesday, August 3, 2022, up until Friday, September 2, 2022.

Crypto Economy Loses $102 Billion in 30 Days — BTC, SOL Shed the Most LossesBTC/USD daily chart.

Ethereum’s monthly loss was less brutal after ETH took a 2.75% hit against the U.S. dollar. BNB lost ​​7.02%, XRP dropped 10.53% against the dollar, and ADA slid 9.34%.

Crypto Economy Loses $102 Billion in 30 Days — BTC, SOL Shed the Most LossesETH/USD daily chart.

Solana (SOL) was the biggest loser out of the top ten crypto assets as it lost 19.12% against the dollar. The tenth largest crypto asset, polkadot (DOT), shed 8.93% during the last 30 days.

Crypto Economy Loses $102 Billion in 30 Days — BTC, SOL Shed the Most LossesSOL/USD daily chart.

Historical statistics from coinmarketcap.com indicate that the global cryptocurrency market cap on August 3 was $1.06 trillion and by September 2, the overall valuation of the entire crypto economy was under $1 trillion at $982.53 billion.

Crypto prices were different 30 days ago as well, as bitcoin (BTC) was trading for $22,829 per unit. Ethereum (ETH) was swapping for $1,614 per coin, and BNB was fetching $282 per unit. The best-performing crypto asset on August 3 was optimism (OP) as it was up 18.24% against the U.S. dollar.

Crypto Economy Loses $102 Billion in 30 Days — BTC, SOL Shed the Most LossesCHZ/USDT daily chart.

However, OP has lost 38.2% against the dollar this month. Lido dao (LDO) saw an 18.04% rise 30 days ago, but it’s lost 17.7% against the dollar this month. Chiliz (CHZ) was down 9.87% on August 3, but during the last month, CHZ gained 64.7% against the USD.

Theta network (THETA) was down 5.45% a month ago, and during the last 30 days, it has shed 17.9% in USD value. 30 days ago, the total value locked (TVL) in decentralized finance (defi) was $89.81 billion and today the TVL is $59.58 billion.

Makerdao had $8.53 billion locked and as of September 2, Makerdao’s TVL is now down to $7.96 billion. Lido had $7.39 billion 30 days ago and today, it’s around $6.96 billion. The TVL in cross-chain bridges is $9.11 billion, down 25.1% this month, and Polygon bridges dominate by $4.21 billion.

What do you think about the crypto economy’s price action during the last 30 days? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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