WASHINGTON (dpa-AFX) - Cryptocurrencies are trading with heavy losses as markets reconcile to the massive hack at Bybit cryptocurrency exchange and the withdrawals that followed. Large outflows from digital asset investment products during the past week attributed to uncertainty on the trade tariff and monetary policy front also impacted market sentiment negatively.
Overall capitalization has fallen to $3.13 trillion, recording an overnight decline of 1.6 percent.
Bitcoin dropped 1.2 percent overnight to trade at $94,498.65, around 13 percent below the all-time high. BTC has lost 2.2 percent in the past week and 9.9 percent over the past 30 days. Bitcoin traded between $96,503.45 and $94,212.66 in the past 24 hours.
Data from Farside Investors showed that Bitcoin Spot ETF products in the U.S. recorded outflows of $63 million on Friday versus outflows of $365 million a day earlier.
Ethereum has slipped 4.9 percent in the past 24 hours to trade at $2,663.73, around 46 percent below the previous peak recorded in November 2021. Weekly losses are close to 5.5 percent. Ether traded between $2,850.61 and $2,643.30 in the past 24 hours.
Latest data revealed that inflows to Ethereum Spot ETF products in the U.S. recorded outflows of $9 million on Friday versus outflows of $13 million on Thursday.
4th ranked XRP (XRP) declined 4.6 percent overnight to trade at $2.44, around 36 percent below the all-time high touched in January 2018. The cryptocurrency's weekly losses exceed 9.6 percent.
5th ranked BNB (BNB), slipped 2.7 percent, lifting losses in the past week to 13.8 percent. BNB is currently trading at a price of $636.21, which is 18 percent below the all-time high touched on December 4, 2024.
The price of Solana (SOL) plunged 9.6 percent overnight. With weekly losses of 16.5 percent, 6th ranked SOL is currently trading at $152.89, around 48 percent below its record high on January 19, 2025.
8th ranked Dogecoin (DOGE) dropped 8.1 percent overnight to trade at $0.2242. Having shed 16 percent in the past week, DOGE is trading 70 percent below the previous peak scaled in May 2021.
9th ranked Cardano (ADA) erased 7.6 percent overnight to trade at $0.7129. ADA , which lost 13.6 percent in the past week is currently trading 77 percent below the record high touched in September 2021.
10th ranked TRON (TRX) rallied 1.1 percent overnight to trade at $ 0.2457. TRX has added 0.3 percent in the past week. The trading price is 44 percent below the cryptocurrency's all-time high recorded on December 4, 2024.
16th ranked Hedera (HBAR) that rallied 3.4 percent and 30th ranked Bittensor (TAO) that added 2.7 percent topped gains among the top 100 cryptocurrencies.
77th ranked Raydium (RAY) topped overnight losses with a decline of 26.6 percent. 63rd ranked Ethena (DNA) followed with losses of 11.4 percent.
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