The Currency analytics
By Bruce Buterin
Bitcoin got hammered today. The world's biggest cryptocurrency dropped below $63,000 for the first time since that nasty February 6 crash, and things aren't looking pretty for…
The selloff didn't happen overnight - Bitcoin's been struggling since it got rejected above $70,000 last week.
Bitcoin's market cap now sits at roughly $1.260 trillion. Its dominance over other cryptocurrencies fell below 56%.
Ethereum's having its own problems, dropping 5% to just above $1,800. The second-largest cryptocurrency can't seem to catch a break as selling pressure mounts across the board.
But there's one bright spot in all the carnage.
PIPPIN bucked the trend completely, surging to a new all-time high of $0.80 with an 11.5% gain on the day. Sometimes the market just doesn't make sense.
The broader cryptocurrency market lost more than $150 billion in value since Sunday, bringing the total market cap down to $2.260 trillion.
Institutional players are feeling the heat too. Grayscale Investments, which runs the massive Bitcoin Trust, saw its assets under management drop by nearly $3 billion compared to…
Some investors are running for cover in stablecoins. Tether (USDT) and USD Coin (USDC) both saw trading volumes spike as traders moved their money into less volatile assets.
Not everyone's panicking though. JPMorgan put out a report on February 24 saying Bitcoin's current price levels might actually attract new institutional buyers who see the dip as…
Coinbase reported a surge in withdrawal requests on February 23, with users moving serious amounts of digital assets off the platform.
MicroStrategy's still holding strong though. CEO Michael Saylor reaffirmed their commitment to Bitcoin during an investor call on February 22, saying the current market…
The Chicago Mercantile Exchange saw Bitcoin futures trading volumes jump over the past week.
BlockFi announced stricter collateral requirements for borrowers on February 23 to protect against further downside risk.
The DeFi sector's seeing some interesting activity though. Aave reported its total value locked increased 7% over the past week to $15 billion as of February 24, as investors…