The cryptocurrency market is facing new challenges amid economic shifts and regulatory news. Let's examine the most significant events of recent days.
Overview of the Current State of the Cryptocurrency Market
According to CoinMarketCap, the total cryptocurrency market capitalization fell by 8% to $2.86 trillion on Tuesday. This decline is one of the largest in the past three years. Bitcoin's price also fell by 8%, reaching $86,700—a level last seen last November. Other major cryptocurrencies like Ether, XRP, and Solana also saw price drops of 8-10%.
Changes in Cryptocurrency Dominance and Their Causes
A detailed analysis shows a rise in Bitcoin's market dominance. In November 2021, its share was approximately 41%, but it has since increased to 61%. In contrast, Ether's share has decreased from 20% to 10%. The share of other cryptocurrencies has also shrunk from 25% to 9%, according to CoinGecko data. This trend highlights Bitcoin's strengthening position amidst the weakening of smaller assets.
Regulatory Changes and the Future of Cryptocurrencies
The U.S. regulatory landscape is also showing significant changes. The U.S. Securities and Exchange Commission ended its investigations into Uniswap Labs, marking an important step in crypto regulation. Experts express confidence that the integration of cryptocurrencies into global finance will continue, despite current market fluctuations.
Current changes in the economic and legal environment have a significant impact on the cryptocurrency market. Experts predict that this dynamic may create conditions for further growth after market stabilization.
