Crypto doom: Market crash erases $56 billion from top coins
In another volatile period driven by bearish financial news, the cryptocurrency market has faced another red week, with most projects registering meaningful losses in the last seven days, despite a few cryptocurrencies outperforming the vast majority with extraordinary gains. Notably, the Total Crypto Market Cap index by TradingView (CRYPTOCAP: TOTAL) registered $53 billion in losses (-5%) in the last seven days from press time, on October 13. CRYPTOCAP: TOTAL 4-hour chart. Source: TradingView Interestingly, Finbold gathered data from the market capitalization range over the top 10 largest cryptocurrencies, excluding stablecoins, finding noteworthy results. When measuring their highest to lowest market cap, these projects lost a total of $56.4 billion market cap. Bitcoin (BTC) had a higher market cap of around $550 billion at the beginning of the week, just to be valued at as low as $520 billion in its worst 7-day moment. This accrued $30 billion in losses to the market lead...