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As of Wednesday late afternoon, most of the major 20 digital assets and US equity markets have retreated.
CoinMarketCap data showed that the largest cryptocurrency by market value, Bitcoin (BTC-USD), was trading at $43,789, plunging 4.7% in the past 24 hours. Trading volume was at $37.93 billion, up 23%.
The oldest cryptocurrency is currently 5% down year-to-date, compared with a 6% drop for the S&P 500 Index.
Ethereum (ETH-USD), the second-largest digital asset, decreased 6.3% to $3,232. Terra (LUNA-USD), the fourth-largest, fell 5.5% to $109.63.
Fifteen other digital assets on the CoinDesk 20 list logged losses in the low single- to low double-digit percentage range. These fifteen digital assets account for 99% of the market by volume at eight of the largest exchanges.
Dogecoin (DOGE-USD), the 12th-largest digital asset, recorded the most significant loss of the day, with a decline of 12%.
Two stablecoins pegged to the US dollar, Tether (USDT-USD) and USD Coin (USDC-USD), were each trading 0.01% lower from their value 24 hours ago.
According to CoinGecko data, the cryptocurrency industry’s total market capitalization declined nearly 6% in the past 24 hours to $2.115 trillion.