Cryptocurrency trading values recorded a clear decrease during the past 24 hours, in light of the bankruptcies and collapses of a number of prominent names in the industry, and billions of dollars in withdrawals.
According to Arabiya.net, cryptocurrency trading values decreased by more than 55% in total, to record $22.4 billion.
Stablecoins accounted for more than 92% of the trading value of $20.7 billion, while Bitcoin commanded 39.8% of the cryptocurrency market capitalization.
This comes after Bitcoin fell below the $17,000 level, as it is currently trading at $16,761, down 2.4% in the last 24 hours.
Cryptocurrency exchanges were plagued by declines, with the value of the 10 largest crypto exchanges dropping on average by more than 63%, the level recorded by the largest crypto exchange Binance, where its executions fell by 63.05%, to $6.07 billion in the past 24 hours.
While the biggest declines were for the Bitstamp crypto exchange, whose operations fell by 81%, followed by the Kraken exchange with $166 million implementations, down 77%.
