In the past 30 days, a large number of digital currencies have depreciated. Among the top 10 tokens with the highest market capitalization, the worst performing cryptocurrency is solana, which is down 19.12% against the US dollar. Bitcoin was the second biggest loser in the top 10, as the leading crypto asset lost 12.71% in dollar value this month.
Crypto Economy Shrinks $102 Billion Last Month Despite Mid-August Surge
Cryptoassets saw considerable growth on August 14, 2022, as Bitcoin (BTC) jumped to the $25,000 region and Ethereum (ETH) surpassed $2,000 per unit. Despite the rise in value, BTC lost 12.71% in the past 30 days from Wednesday, August 3, 2022 to Friday, September 2, 2022.
Ethereum’s monthly losses were less drastic after ETH fell 2.75% against the U.S. dollar. BNB fell 7.02%, XRP fell 10.53% against the US dollar, and ADA fell 9.34%.
Solana (SOL) was the biggest loser among the top 10 crypto assets, down 19.12% against the U.S. dollar. The tenth largest crypto asset, polkadot (DOT), is down 8.93% over the past 30 days.
Historical statistics from coinmarketcap.com show that the global cryptocurrency market capitalization was $1.06 trillion on August 3, and by September 2, the overall valuation of the entire crypto-economy was $982.53 billion, below $1 trillion.
Cryptocurrency prices were also different 30 days ago, as Bitcoin (BTC) was trading at $22,829 per unit. Ethereum (ETH) is priced at $1,614 per coin, while BNB is priced at $282 per coin. The best performing crypto asset on August 3 was Optimism (OP) as it gained 18.24% against the US dollar.
However, OP has lost 38.2% against the dollar this month. Lido dao (LDO) was up 18.04% 30 days ago, but has fallen 17.7% against the dollar this month. Chiliz (CHZ) fell 9.87% on August 3, but over the last month, CHZ has gained 64.7% against the US dollar.
Theta Network (THETA), which fell 5.45% a month ago, has lost 17.9% of its dollar value over the past 30 days. Thirty days ago, the total value locked (TVL) in decentralized finance (defi) was $89.81 billion, while today’s TVL is $59.58 billion.
With $8.53 billion locked in Makerdao, Makerdao’s TVL has now dropped to $7.96 billion as of September 2. The Lido had $7.39 billion 30 days ago, compared to about $6.96 billion today. The TVL across the chain bridge was $9.11 billion, down 25.1% for the month, with the Polygon bridge dominating with $4.21 billion.
What do you think of the price action of the crypto economy over the past 30 days? Let us know what you think about this topic in the comments section below.
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