The virtual currency market was sold out, with Bitcoin and Ethereum plummeting nearly 20%

The virtual currency market was sold out, with Bitcoin and Ethereum plummeting nearly 20%

The virtual currency market suddenly collapsed on the morning of December 4th in connection with the Omicron mutation that made investors fear and avoid risks. Many digital currencies fell 30-40% and the market capitalization of virtual currencies “evaporated” nearly 500 billion VND USD in within the last 24 hours.

On December 24th (Vietnam time) at 12:40 p.m., Bitcoin fell nearly 18% to nearly $ 46,500, the biggest day of decline in many months. Compared to the record high of almost VND 69,000 USD, the largest digital coin has fallen more than 30%.

In the meantime, other virtual currencies are also in the red in the top 10. Ethereum fell more than 17% to 3,735 USD, Solana coin fell more than 22%, Cardano and Ripple fell more than 25%.

The two memecoins Shiba Inu and Dogecoin also “evaporated” by more than 20% and disappeared from the top 10 of the largest digital currencies.

Top 10 largest digital coins

The decline came amid the Omicron mutation, which worried investors and fueled risk aversion.

The market capitalization of virtual currencies also evaporated by almost 500 billion VND USD in within the last 24 hours, from 2,620 Billion USD approx. 2,130 USD on the morning of December 4th