Crypto crash erases more than USD1 trillion in market value

Jan 24, 2022 AlShorts Web Desk

Bitcoin, the largest digital asset, lost more than 12% Friday and dropped below USD36,000 to its lowest level since July. Bitcoin’s decline since that November high has wiped out more than USD600 billion in market value, and over USD1 trillion has been lost from the aggregate crypto market. Other digital currencies have suffered just as much, if not more, with Ether and meme coins mired in similar drawdowns.