The cryptocurrency market saw a net outflow of about $24 billion on Monday afternoon, June 5. The total capitalization of the market fell from $1.155 trillion to about $1.131 trillion.
Bitcoin and ether’s market capitalization fell 1.84% and 2.04% to $518.4 billion and $224.4 billion respectively.
Taking into account the losses of the last 24 hours, the market value of ETH is about $1870. At the same time the share of ether in the crypto market increased from 19.7% to 19.8%.
In 24 hours, BNB, ADA and SOL showed the biggest bounce, losing 2.35%, 2.21% and 2.31% respectively.
The passage of a new U.S. government debt ceiling may have prompted some crypto investors to withdraw funds from risky assets to safer ones, such as government bonds.
On Saturday, June 3, analyst service Kaiko provided
data showing that trading volume on centralized cryptocurrency exchanges fell to $5 billion a day. The same numbers were in 2020, before the massive rise in the bitcoin exchange rate.