Crypto crash: The crypto economy loses $102 billion in 30 days

A large number of digital currencies have lost value over the past 30 days and the worst performing crypto among the ten currencies with the largest market valuations was solana, losing 19.12%. Bitcoin was the second biggest loser in the top ten, as the leading crypto asset lost 12.71% of its dollar value this month.

Despite the mid-August surge, the crypto economy was down $102 billion last month.

Crypto assets surged on August 14, 2022, bitcoin surpassed the $25K area and ethereum surpassed $2,000. Despite the jump in value, BTC has lost 12.71% over the past 30 days, from Wednesday, August 3, 2022 to Friday, September 2, 2022.

Ethereum’s monthly loss was less brutal after ETH suffered a 2.75% drop. BNB lost 7.02%, XRP fell 10.53% against the dollar, and ADA slipped 9.34%.

Solana was the biggest loser among the top ten crypto assets, with a loss of 19.12%. The tenth largest crypto asset, polkadot lost 8.93% over the past 30 days.

The statistics of coinmarketcap.com report that the global crypto-currency market capitalization stood at $1.06 trillion on Aug. 3 and that as of Sept. 2, the overall valuation of the entire crypto economy was less than $1 trillion, or $982.53 billion.

Crypto-currency prices were also different 30 days ago, as bitcoin was trading at $22,829. Ethereum was trading for $1,614 per coin, and BNB reached $282 per unit. The best performing crypto asset on Aug. 3 was optimism (OP), as it was up 18.24 percent.

However, OP has lost 38.2% this month. Lido dao (LDO) was up 18.04% 30 days ago, but has lost 17.7% this month. Chiliz (CHZ) was down 9.87% on August 3, but in the last month CHZ has gained 64.7%.

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

Makerdao had $8.53 billion blocked and as of September 2, the TVL of Makerdao is now down to $7.96 billion. Lido was at $7.39 billion 30 days ago and today is at about $6.96 billion. The TVL for cross-chain bridges is $9.11 billion, down 25.1% this month, and Polygon bridges dominate by $4.21 billion.